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Relevant Information—For You, By You
Tom Wolfe, Attorney with Moore Brewer Wolfe Jones Tyler and North

NEW CALIFORNIA MORTGAGE LAWS
updated 03/04/13 07:42 PM
Legislation May Affect Your CU
A series of bills, known as the California Homeowner’s Bill of Rights, was signed by Gov. Jerry Brown in 2012. These new laws impact mortgage lending practices in California, and credit unions operating in the state should be aware of their provisions.

The bills include the following provisions:

  • Dual tracking prohibition
  • Robo-signing prohibition
  • Single point of contact
  • Borrower remedies
  • Foreclosure property buyer maintenance
  • Notice of sale to tenants
  • Mortgage modification pre-payment fees
  • Limited statewide grand jury investigations

Click here to read New California Mortgage Laws on Page 17 within the February/March edition of Credit Union Digest.

                           
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'PROBLEM SOLVED' COLUMN HELPS CUs updated 04/14/14 04:30 PM
Latest in Credit Union Digest
Has your credit union taken advantage of the newest Credit Union Digest column—“Problem: Solved”?

CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated 04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.

DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated 04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.

CONGRESSMEN CONCERNED OVER RBC RULES updated 04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.