Statement on Subprime Mortgage Lending
The Agencies are issuing a final interagency Statement on Subprime Mortgage Lending. This guidance has been developed to clarify how institutions can offer certain adjustable rate mortgage (ARM) products in a safe and sound manner, and in a way that clearly discloses the risks that borrowers may assume.
Federal Credit Union Bylaws
The NCUA Board recently issued a proposed rule to reincorporate the Federal Credit Union (FCU) Bylaws into NCUA regulations that provided a 60-day comment period. 72 FR 30984 (June 5, 2007). NCUA received a request to extend the comment period and the NCUA Board has decided to extend the comment period for an additional two weeks.