Mortgage Servicing Rights
The NCUA Board (Board) proposes to amend its investment regulation to permit federal credit unions (FCUs) to purchase mortgage servicing rights from other federally insured credit unions under certain conditions. Under the proposed rule, eligible FCUs may purchase the mortgage servicing rights of loans that the FCU is otherwise empowered to grant, provided these investments are consistent with safety and soundness and made in accordance with the FCU’s policies and procedures that address the risk of these investments and servicing practices.
|Date proposed:||Dec. 22, 2020|
|Comments due date:||Feb. 1, 2021|
|Rule compliance date:|
|Related Reg Report item(s):||Credit union regulator extends loan participations temporary rule, issues trio of proposals, sets savings insurance fund operating level|