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Exception to the Maturity Limit on Second Mortgages

NCUA · final-rule · Published 2009-12-24 · Effective 2009-12-24 · 74 FR 68369

Document

Document number
E9-30435
Federal Register citation
74 FR 68369
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2009-12-24
Effective date
2009-12-24

Abstract

On June 24, 2009, the NCUA published an interim final rule 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. This rule confirms those amendments as final without change.

Source

Authoritative
Federal Register document
Machine
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