National Credit Union Administration June 24, 2009 – Federal Register Recent Federal Regulation Documents

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Exception to the Maturity Limit on Second Mortgages

Document Number: E9-14759

Type: Rule

Date: 2009-06-24

Agency: National Credit Union Administration, Agencies and Commissions

NCUA is amending its lending rules to create a limited exception to the 20-year maturity limit on second mortgage loans. The amendment will permit federal credit unions participating in the Department of the Treasury's Making Home Affordable Program to modify a second mortgage loan, beyond 20 years, to match the term of a modified first mortgage loan.

https://regulations.justia.com/regulations/fedreg/2009/06/24/E9-14759.html

Operating Fees

Document Number: E9-14756

Type: Rule

Date: 2009-06-24

Agency: National Credit Union Administration, Agencies and Commissions

NCUA is amending its rule on the assessment of the Federal credit union (FCU) operating fee by permitting FCUs to subtract investments made under the Credit Union System Investment Program (CU SIP) and the Credit Union Homeowners Affordability Relief Program (CU HARP) from their total assets; total assets is the basis on which the operating fee is currently calculated. The Board believes this amendment will remove a disincentive for some FCUs from participating in the CU SIP or the CU HARP.

https://regulations.justia.com/regulations/fedreg/2009/06/24/E9-14756.html