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TruMark CEO speaks for CUs at state House committee
HARRISBURG, Pa. (9/22/08)--TruMark Financial CU CEO Rick Stipa before the Pennsylvania House Commerce Committee about a proposal regarding mortgage conciliation meetings.
TruMark Financial CU CEO Rick Stipa testifies during a hearing on a proposal regarding mortgage conciliation meetings. His credit union already participates in such meetings, he said, adding that the proposal should be amended. (Photo provided by the Pennsylvania Credit Union Association)
He testified on behalf of Pennsylvania credit unions and the Pennsylvania Credit Union Association. The proposal would require lenders seeking court approval of a mortgage foreclosure to participate in a conciliation conference with the homeowner to explore restructuring the loan as well as the borrowers’ eligibility for state, federal and local mortgage foreclosure programs (Life is a Highway Sept. 19). Stipa requested that the proposal be amended to clarify the process. TruMark, Trevose, Pa., already participates in conciliation conferences, according to Stipa. “This is the credit union way. This is what credit unions do. We reach out to our members,” he said.


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