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

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.
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.
Sunshine Act; Notice of Agency Meeting
Document Number: E9-14129
Type: Notice
Date: 2009-06-15
Agency: National Credit Union Administration, Agencies and Commissions
Registration of Mortgage Loan Originators
Document Number: E9-13058
Type: Proposed Rule
Date: 2009-06-09
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, OTS, FCA, and NCUA (collectively, the Agencies) are proposing amendments to their rules to implement the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). The S.A.F.E. Act requires an employee of a bank, savings association, credit union or other depository institution and their subsidiaries regulated by a Federal banking agency or an employee of an institution regulated by the FCA (collectively, Agency-regulated institutions) who acts as a residential mortgage loan originator to register with the Nationwide Mortgage Licensing System and Registry (Registry), obtain a unique identifier, and maintain this registration. This proposal implements these requirements. It also provides that Agency-regulated institutions must require their employees who act as residential mortgage loan originators to comply with the S.A.F.E. Act's requirements to register and obtain a unique identifier and must adopt and follow written policies and procedures designed to assure compliance with these requirements.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.