NCUA Approved Appraisal Rule and Reduction in Stabilization Fund Budget
At yesterday’s board meeting, NCUA approved a final rule that will permit federally insured credit unions to modify or refinance a mortgage loan without obtaining a new appraisal if no new funds are being advanced or if there is a new advance with adequate collateral protection. The Board also approved a budget of $4+ million for the Stabilization Fund, which represents an 8.9% reduction over the 2014 budget and the establishment of an agency working to review membership and secondary capital issues. [12/12/14]


