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NCUA Recognizes Former WesCorp Examiner

Joseph Shoshoo, who was onsite at WesCorp from 2007-2009, named Specialized Examiner of the Year.

By David Morrison | Updated on May 27, 2015

The NCUA has named an examiner who was onsite at the failed Western Corporate FCU from 2007 to 2009 the agency’s Specialized Examiner of the Year from Region 1 for 2014, according to an NCUA program from its May 20 awards ceremony.

Joseph Shoshoo served as capital markets specialist and resident examiner at WesCorp from 2007 to 2009, according to court documents that a former WesCorp executive filed in 2011.  The former executive sought to depose Shoshoo and other NCUA and non-NCUA officials as part of his litigation with the NCUA and he believed Shoshoo had knowledge of the NCUA’s admissions in the case, along with contemporaneous assessments of credit and other risks associated with mortgage-backed securities, both agency and private label; concentration and diversification of assets; the NCUA’s examinations and oversight of WesCorp, according to motion.

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