Managing the risk of paid ahead loans

first_img 11SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The compliance team is often asked whether there is a federal regulation that limits the number of days a loan can be paid ahead. While there is no federal regulatory limit on how far in advance a loan can be paid, there are a few risk management practices and contractual limitations the credit union may want to consider.To begin with, the credit union’s loan agreement with the member may govern how payments are applied to the loan. For example, there may be a clause in the agreement regarding how payments in excess of the principal, interest and escrow (if any) will be applied such as advancing the due date or paying down the principal. Generally, ambiguities in a contract are left to state law interpretation so it is important to ensure contract clauses regarding the application of payments are clear. If the credit agreement is silent on the matter, the manner in which the credit union applies excess payments may come down to internal policies or even case law which may not be ideal as courts may interpret things differently yielding various results. If the credit union permits the due date to advance, here are some risk management principles to note.There are several instances in which NCUA references paid ahead loans as part of a credit union’s overall risk management strategy. For instance, transaction risk is defined in NCUA’s Examiner’s Guide, Chapter 1 as follows: continue reading »last_img read more

Hazard stars as Chelsea return to winning ways

first_img— UEFA Champions League (@ChampionsLeague) January 20, 2018When the wing-back pulled the ball back from the byline, Hazard benefited from a deflection off Dale Stephens and Lewis Dunk’s slip before placing his shot beyond goalkeeper Mat Ryan.There was even worse to come for Brighton fewer than three minutes later when Dunk’s misplaced pass handed Chelsea possession near the halfway line.Willian collected the loose ball, found Hazard, and continued his run towards the edge of the box were he collected a return after neat flicks from Hazard and Batshuayi before firing past Ryan.The Seagulls were shell-shocked and the game appeared to be effectively over but, to their credit, Brighton recovered and responded positively as they began to build-up momentum.Nevertheless, their efforts to work their way back into the match were undone both by poor finishing and referee Jon Moss’s decision to reject two strong penalty appeals.Brighton’s first claim came in the 16th minute when Chelsea keeper Willy Caballero — Thibaut Courtois was ruled out with an ankle problem –– weakly palmed a cross away and appeared to trip Ezequiel Schelotto as he attempted to recover from his mistake.Then 20 minutes later, Albion wing-back Schelotto again burst into the area before going down under a challenge from Tiemoue Bakayoko.With Tomer Hemed and Markus Suttner both wasting good headed chances, Brighton’s hopes dimmed, particularly as Hazard looked threatening every time he pressed forward.The pattern was maintained after the break with Albion’s Davey Propper heading against the bar four minutes into the second half before Ryan kept Brighton in the match by pushing Willian’s free-kick onto the post and away to safety.Hazard finally killed off the game in the 77th minute after running from deep before slotting home the third with a delightful shot back across the retreating cover.Moses rounded off a convincing victory when he got on the end of substitute Charly Musonda’s excellent long ball to make it 4-0.Share on: WhatsApp Brighton, United Kingdom | AFP | A sublime performance from Eden Hazard solved Chelsea’s recent scoring problems in their first victory this year conjuring two goals in a 4-0 win away to Brighton and Hove Albion on Saturday.Two goals in the opening six minutes at the Amex Stadium — Hazard’s opener followed by a Willian strike –- put the Blues in control, with Hazard adding the London side’s third goal in the 77th minute before Victor Moses wrapped up the win two minutes from time.A great performance and three important points! Well done guys! Come on Chelsea!!! ????#CFC #premierleague #comeonchelsea #W22 #goal pic.twitter.com/2tigRTU7zW— Willian (@willianborges88) January 20, 2018This success moved Antonio Conte’s reigning Premier League champions above Liverpool and into third place, 48 hours before the Reds travel to Swansea.The margin of victory was tough on Brighton who were unable to improve on a run that has now brought the Seagulls just one win in 13 games.Conte’s hand had been forced by the midweek dismissals of Alavaro Morata and Pedro in the FA Cup replay with Norwich City –- Chelsea eventually progressed into the fourth round after a penalty shoot-out — which meant both players were suspended for the trip to the south coast.As a result, Chelsea coach Conte had little option but to start with a front three led by Michy Batshuayi flanked by Hazard and Willian.Brighton’s starting line-up was much more of a surprise with manager Chris Hughton unexpectedly opting for a back three while omitting club captain Bruno Saltor and last season’s Championship player of the year, Anthony Knockaert.– Albion defence goes AWOL –But if Hughton’s intention were to bolster Brighton’s defence, his plans backfired disastrously in the opening six minutes when Chelsea, who have struggled in front of goal in recent weeks, twice carved open a reconfigured backline.Conte’s side took full advantage of Brighton’s willingness to sit back and created a passing move that released Moses.Eden Hazard stole the show with two goals as Chelsea eased past hosts Brighton 4-0 in the early Premier League game. #UCL pic.twitter.com/OCCh9m9n4vlast_img read more

Woodley’s Sack Attack Tackles Literacy Issue

first_imgHeld at the Estelle S. Campbell Boys & Girls Club, the event marked the beginning of the second year of Woodley’s educational challenge and literacy initiative under the LaMarr Woodley Sack Attack program. Woodley gave each participant two new books and reading materials through program partners Reading is Fundamental Pittsburgh and Scholastic. There were prizes for top reading participants throughout the duration of the program. Participants also had the opportunity to participate in an essay contest, with the theme of anti-bullying. The top performers for each age group in the essay contest won tickets to a Steelers home game at the end of the 2013-14 season.The event included interactive activities by The Josh & Gab Show, a speech by Woodley, a pizza and ice cream party, and distribution of literacy materials. Through Sack Attack, Woodley donates $500 per sack, which is matched by corporate sponsors, throughout the regular season among three deserving charitable organizations: the Boys & Girls Club of Western Pennsylvania, Heroes for Kids, and Prevent Another Crime TODAY. WORKING FOR THE CAUSE—From left: Sheilda Braddock, CEO of the LaMarr Woodley Foundation; Malcolm Staples, president of the LaMarr Woodley Foundation;  Mercedes Howze; and LaMarr Woodley. (Photos by Gail Manker) Pittsburgh Steelers Pro Bowl Linebacker LaMarr Woodley hosted his fifth annual LaMarr Woodley Foundation Sack Attack kickoff event, in conjunction with his second annual Literacy Initiative, in October, giving 200 youth from the Boys & Girls Club of Western PA an incredible opportunity to get more involved with reading and writing. His 1st Impressions program  also held its first Back to School program at Obama Academy.PRECIOUS AUTOGRAPH—LarMarr Woodley autographs a shirt for Anesa Cohen (back to the camera) while Amere Webb looks on.center_img Follow @NewPghCourier on Twitter  https://twitter.com/NewPghCourierLike us at https://www.facebook.com/pages/New-Pittsburgh-Courier/143866755628836?ref=hlDownload our mobile app at http://www.appshopper.com/news/new-pittsburgh-courierlast_img read more

Half-time: QPR 1 Derby County 0

first_imgTjaronn Chery’s brilliant left-footed strike – his third goal in his last five matches – put QPR ahead.In-form keeper Alex Smithies played a big part in Rangers’ 24th-minute opener at Loftus Road, where the home side have grown in confidence since taking the lead.Smithies threw the ball to James Perch near the halfway line and the full-back galloped down the left and delivered a perfect cross to Chery, who guided the ball into the net with a sublime volley.Earlier, Sebastian Polter, back in the QPR starting line-up along with Clint Hill, Matt Phillips, Junior Hoilett and Alejandro Faurlin, went close with a long-range shot that went just wide.And four minutes after his goal, Chery tried his luck with another left-footed effort that that flashed narrowly wide too.Rangers went close again seven minutes before the break, when Phillips was just unable to connect with Hoilett’s left-wing cross.QPR: Smithies, Onuoha, Angella, Hill, Perch, Faurlin Henry, Phillips, Chery, Hoilett, Polter.Subs: Ingram, Konchesky, Tozser, Petrasso, El Khayati, Mackie, Washington.Follow West London Sport on TwitterFind us on Facebooklast_img read more

Henri Fennell’s Advice on Cathedral Ceilings

first_img Sign up for a free trial and get instant access to this article as well as GBA’s complete library of premium articles and construction details. This article is only available to GBA Prime Members I first interviewed Henri Fennell, the celebrated spray foam consultant from North Thetford, Vermont, about twenty years ago. Back then, Joe Lstiburek, the founding principal at Building Science Corporation, called Henri “the foam god.” While Fennell’s former company, Foam-Tech, closed up shop years ago, Fennell hasn’t retired. He now works as a consultant, specializing in problems related to spray foam insulation or air leakage.At the recent Better Buildings By Design conference in Burlington, Vermont, Fennell gave a well-attended presentation called “Theory and Practice for Attics and Cathedral Roof Slopes in Cold Climates.” Fennell’s presentation was based on a paper he authored called “Attic and Roof Slope Ventilation Design.” I highly recommend Fennell’s paper.I won’t try to recreate Fennell’s paper, since it is available online. Instead, I’ll give a flavor of his presentation by sharing pithy advice that Fennell gave the audience. Decades of spray foam experience Fennell told the Burlington audience, “My first spray foam project was in 1971.” Fennell shared a large number of PowerPoint slides illustrating his experience tracking down air leaks.Here are some nuggets that Fennell shared in Burlington:“I’ve seen everything. I’ve even seen heat ducts located in the roof slopes.”“Icicles are a symptom of roof melt. Icicles are almost always accompanied by ice dams.”“In an attic, an air leak [through the ceiling] can heat up the entire attic. In a cathedral ceiling, an air leak will only cause problems in a single rafter bay.”“I remember one job where the air sealing depended on the polyethylene vapor barrier, sealed with tape. When the blower door test started, you could… center_img Start Free Trial Already a member? Log inlast_img read more

NBA rescinds technical fouls on Kevin Durant, JaMychal Green

first_imgPrivate companies step in to help SEA Games hosting Golden State Warriors forward Kevin Durant, left, and Los Angeles Clippers forward JaMychal Green jaw at each other during the second half in Game 3 of a first-round NBA basketball playoff series Thursday, April 18, 2019, in Los Angeles. The Warriors won 132-105. (AP Photo/Mark J. Terrill)NEW YORK— The NBA has rescinded technical fouls called on Golden State’s Kevin Durant and JaMychal Green of the Los Angeles Clippers in Game 3 of their first-round playoff series.The players were called for double technicals early in the third quarter Thursday night at Staples Center as they jawed at each other. The Warriors won 132-105 and lead the series 2-1.ADVERTISEMENT Sports Related Videospowered by AdSparcRead Next Hontiveros presses for security audit of national power grid SEA Games hosting troubles anger Duterte PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Panelo: Duterte ‘angry’ with SEA Games hosting hassles Both players protested the call, and the league rescinded it Friday.Durant had been ejected from Game 1 with a double technical and he had accumulated three of the seven fouls allotted before the NBA would issue a one-game suspension until the latest tech was withdrawn.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsDurant said after the game Thursday that he hoped the foul would be rescinded because he doesn’t want to jeopardize the two-time defending champions going forward. Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Nadal surprised as ‘super solid’ Djokovic exits Monte Carlo DA eyes importing ‘galunggong’ anew Cayetano: Senate, Drilon to be blamed for SEA Games mess Don’t miss out on the latest news and information. Philippine Arena Interchange inaugurated MOST READ LATEST STORIES View commentslast_img read more

Court Pushes Deadline for Hanjins Rehabilitation Plan

first_imgzoom South Korean Hanjin Shipping has received a deadline extension from Seoul Central District Court to submit its rehabilitation plan, the company said in a stock exchange filing.The court moved the date of the first meeting to discuss the future of Hanjin Shipping to December 9, almost a month after the initial date of November 11.After the first meeting, the company is expected to submit a new rehabilitation plan.Hanjin Shipping decided to file for court receivership on August 31 as it succumbed to the prolonged depression in the shipping market.Following the company’s move, Korean Financial Services Commission (FSC) said that the government “will promote sales of Hanjin Shipping’s core assets to Hyundai Merchant Marine in a bid to maintain competitiveness of the shipping industry.”The decision to file for court receivership was made after the company’s creditors, led by Korea Development Bank (KDB), said they would not provide additional financial support to Hanjin starting from September 4.Alphaliner earlier said that the poor handling of Hanjin Shipping’s collapse has done irreparable damage to the Korean carrier’s reputation, and it is improbable that Hanjin Shipping can be revived as it was despite the Seoul district court’s approval for rehabilitation.World Maritime News Stafflast_img read more