The NCUA plans to unveil proposals to revamp its rules for its chartering and field of membership determination process at its meeting next Thursday.
NCUA Chairman Debbie Matz has said since taking office last summer that simplifying the rules and making them more user-friendly is a top priority.
The board is also scheduled to give final approval to a rule that would allow more flexibility to federal credit unions that participate on the Obama administration's program for re-writing and refinancing certain mortgages.
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FCUs would be allowed to modify a second mortgage to match the first one, even if that mortgage extends beyond the 20 years allowed by the agency's lending rules. The rules place such a limit on second mortgage loans secured by the borrower's primary residence.
In comment letters, both CUNA and NAFCU supported the proposed rule.
The board is also scheduled to hear a monthly report on the state of the National Credit Union Share Insurance Fund.
The board has three items on the agenda of its executive session: An appeal from Lexington Park, Maryland-based Cedar Point Federal Credit Union of a regional director's denial of its request to convert to a community charter; Supervisory activities; and personnel matters.
The meeting is scheduled to take place at 10:00 a.m. at the agency's headquarters in Alexandria, Va.
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