Working with Troubled Loans: Extensions, Deferments, Re-Aging, Refinancing & Incentives
StreamedAug 15, 2023Duration90 minutes
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- Unlimited & shareable access starting two business days after live stream
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Join veteran collections attorney David Reed as he uncovers the hidden truths of collections problem resolution.
This session will examine the nuts and bolts of an effective program, recovery options, and the role of member service. From regulatory compliance to loan modifications, to interdisciplinary collections, to charge-offs, this session will reveal innovative ways to identify and communicate with troubled borrowers before it’s too late.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Inventory your collections process and recovery options
- Map out key troubled borrower contact points
- Educate and empower all staff to recognize troubled borrowers
- Cross-sell solutions in a collections environment
- Understand and communicate recovery options
- Recognize compliance traps and regulatory requirements
- Deploy effective loan rescue (and recovery) incentives
Credit risk is back in the headlines and most industry experts and regulators predict a wave of defaults is on the horizon. If your institution is focusing solely on the delinquency report to identify troubled borrowers, you are ripe for an upgrade! Every borrower who has had a loan charged off made a final payment at some time. The problem was the institution didn’t realize it was the last payment. That’s why bankruptcy filings are sometimes surprising. The current economic environment is having a negative impact on many borrowers and institutions are in a unique position to assist them – if they can avoid the numerous landmines along the way. Is your collections department ready to help both the borrower and the credit union weather the storm?
WHO SHOULD ATTEND?
This jam-packed session is designed for executives, CFOs, lending managers, collections managers, collections staff, and anyone interested in maximizing collections efforts.
- Sample recovery options matrix
- Sample loan modification policy
- Regulatory guidance on loss mitigation and loan modifications
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
David A. Reed
Reed & Jolly, PLLC
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