Comments Due to NAFCU: NCUA - Mortgage Servicing Rights

Important Regulatory Dates Add to Calendar 2021-01-15 17:00:00 2021-01-15 17:00:00 Comments Due to NAFCU: NCUA - Mortgage Servicing Rights NAFCU would like to highlight the following: The proposed rule would remove the current prohibition on federal credit unions’ (FCUs’) ability to purchase MSRs from the Investment and Deposit Activities Rule (investment rule). Under this rule, FCUs would be able to purchase MSRs from other federally-insured credit unions (FICUs) as a permissible investment. For an FCU to purchase MSRs, the loan must be one that the FCU was empowered to grant, within the limitations of the board of directors’ written purchase policies, and there must be prior approval by the board of directors or investment committee. Comments due to NAFCU: January 15, 2021 Comments due to NCUA: February 1, 2021 Comment now   NAFCU will send comments on behalf of its members to the NCUA by their deadline (January 15, 2021). Location NAFCU digital@nafcu.org America/New_York public

NAFCU would like to highlight the following:

  • The proposed rule would remove the current prohibition on federal credit unions’
    (FCUs’) ability to purchase MSRs from the Investment and Deposit Activities Rule (investment rule).
  • Under this rule, FCUs would be able to purchase MSRs from other federally-insured credit unions (FICUs) as a permissible investment. For an FCU to purchase MSRs, the loan must be one that the FCU was empowered to grant, within the limitations of the board of directors’ written purchase policies, and there must be prior approval by the board of directors or investment committee.

Comments due to NAFCU: January 15, 2021

Comments due to NCUA: February 1, 2021

Comment now  

NAFCU will send comments on behalf of its members to the NCUA by their deadline (January 15, 2021).