California credit union books 135 loans worth $33 million through HARP 2.0, saving members $600,000 a year.
Borrowers relieved of requirement to document hardship or financial situation.
CEO, CFO of now-bankrupt Franklin Bank Corp. in Houston accused of fraud for loan modification programs intended to hide nonperforming loans, artificially boost earnings.
The $83 million Musicians’ Interguild Credit Union of Hollywood, Calif., has a beef over how examiners treat modifications on interest-only loans and its CEO/Treasurer Marc Jacoby is outspoken on the topic.
Claiming it is being made a scapegoat, a Hollywood, Calif. credit union, the $83 million Musicians’ Interguild, is wrangling with regulators this week over how to treat modifications on real estate loans written as interest-only and now deemed delinquent on Call Reports.
Even as the economy improves, foreclosures remain a problem for many lenders–but not the National Federation of Community Development Credit Unions.