Moratorium, Cramdowns & Other Provisions of Ohio House Bill 3: Will They Be Constitutional?

Client Advisory March 27, 2009 By: Larry Rothenberg Ohio House Bill 3 (H.B. 3), which was introduced in February and remains pending in the state legislature, features the following: Creates a six-month moratorium on foreclosures of occupied properties Authorizes state court judges to impose a “cramdown” by reducing the mortgage amount to the current appraised…

Current Issues in Credit Unions #35.

Hal Scoggins, Katherine Weber and yours humbly bring you the show this month.  Here are the topics: –Corporate Stabilization Update. –Wrongful repossession:  tips and traps. –Loan modifications, forbearance agreements and refinancing. –Fincen SAR sharing proposal. –Credit Unions and Student Loans. –New NCUA sign The CIiCU hosts are: Brian Witt Member Farleigh Wada Witt, Attorneys at…

The Dangers of Wrongful Repossession

By: Rob Rutkowski, Esquire Anthrax Research Federal Credit Union (ARFCU) is a multi-state credit union with approximately 15 branches.  Jenny Sharp is a loan officer at the credit union.  In March, she writes a $3,000 loan to Stanley Sewer for a 1984 Buick Electra.  Stanley agrees to repay the loan at $142/mo payable on the…

Current Issues in Credit Unions Episode 34.

On this month’s show, Faith, Brian, Guy, Katherine and Rob discuss the latest happenings in the credit union movement and some common legal questions facing credit unions.  Here are the topics: –CUNA’s GAC update. –Disclosure Requirements for Refinancings and Modifications. –Living Trusts:  Best Practices.  (Episode 21 and before) –Regulation D tips and traps (update from episode…