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Exception to the Maturity Limit on Second Mortgages

NCUA · final-rule · Published 2009-06-24 · Effective 2009-06-24 · 74 FR 29933

Document

Document number: E9-14759
Federal Register citation: 74 FR 29933
CFR reference: 12 CFR 701
Type: Rule
Action: Interim final rule with request for comments.
Category: final-rule
Agency: US National Credit Union Administration
Publication date: 2009-06-24
Effective date: 2009-06-24

Abstract

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.

Source

Authoritative: Federal Register document
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