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ALEXANDRIA, Va. – The NCUA Board voted to approve for public comment a proposed regulation to allow federal credit unions to invest in mortgage note repurchase transactions.

The proposal would modify NCUA’s investment rule to allow for investments in mortgage-backed securities when the instrument is made up of first-lien notes. These investments are exempt from Securities and Exchange Commission registration, NCUA Staff Attorney Moisette Green noted. NCUA issued the proposed rule with a 60-day comment period.

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