Former WOCCU Chair Passes
WASHINGTON–Joe Perkowski, who served in a volunteer in a variety of roles in credit unions, has died. Mr. Perkowski served as CUNA Chairman from 1985-87 and as chairman of the World Council of Credit Unions from 1992-93. He helped form the Foundation for Polish Credit Unions and was honored with the prestigious WOCCU Distinguished Service Award in 1997.
Foreclosure Law Enacted In Calif.
SACRAMENTO, Calif.–California Gov. Arnold Schwarzenegger has signed a new law affecting residential mortgage foreclosure procedures. Effective on loans made Jan. 1, 2003, to Dec. 31, 2007 and secured by owner-occupied residential real property, the bill requires: A mortgage lender or servicer to contact a borrower or satisfy due-diligence requirements before filing a notice of default for assessing the borrower’s financial situation and exploring options to avoid foreclosure, according to California Department of Financial institutions (DFI). When a notice of sale is posted on a property for sale, the lender or servicer must mail a specific notice in English and five specific languages to the resident of a property subject to foreclosure sale; and the legal owner must maintain vacant residential property purchased at a foreclosure sale or acquired through foreclosure or face fines up to $1,000 per day.
Risk Mitigation Summit Sells Out
ALEXANDRIA, Va.–The Risk Mitigation Summit being hosted by NCUA Vice Chair Rodney Hood in Chicago Aug. 7 is full. The event is to be held at the Federal Reserve Bank. Those interested in attending may still register to be put on the wait list.
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