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<br /> <br />:;1:';~i~~~,",:,\ ,,,- '/[> <br />is. ul5J"ec.l.'. ;.< <br />~\ ' <br />15 Delinquency, <br />Default and <br />Collection <br /> <br />16 <br /> <br />Streamline <br />Contracting <br /> <br />Formally adopt policies and <br />procedures for handling loan <br />collection problems. <br /> <br />Work with the Attorney <br />General and State Controller to <br />expand the use of boilerplate <br />contracts, develop monitoring <br />procedures to ensure contracts <br />are amended in a timely <br />manner, and consider adopting <br />a two-phase contracting <br />process. <br /> <br />Recommend policy and criteria to board by 6/99 <br /> <br />. Develop proposed procedures, policies and criteria for resolving loan collection problems <br />for consideration by the Board by June 30, 1999. <br /> <br />. Derme "deferment" and "delinquency." <br /> <br />. Evaluate the overall repayment record for CWCB loans. <br />. Identify all deferred loan payments that are incorrectly being characterized delinquent <br />because of irregular or late annual payments. <br />. Identify loans that have encountered significant delinquency problems. <br />. Survey Board members to determine level of awareness desired for delinquencies. <br />. Evaluate the cost to the loan program and other impacts of using the state collection process. <br />. Evaluate the COFRS system to support the loan portfolio. <br /> <br />Summarize efforts and reevaluate by 6/99 <br /> <br />. Work with the Attorney General's Office to streamline the contracting <br />process. <br /> <br />. IdentitY types of borrowers (ranging from individuals and homeowners <br />associations to special districts and municipalities) <br /> <br />· Evaluate impact of the TABOR Amendment on contracting. <br /> <br />· Summarize efforts and complications for consideration by the Board by June <br />30, 1999. <br /> <br />9 <br />