This story appeared in Bank Digest.
The National Credit Union Administration has released a final rule confirming without change amendments made by an interim final rule published on June 24, 2009, modifying the NCUA’s 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 Treasury Department’s Making Home Affordable Program to modify a second mortgage loan, beyond 20 years, to match the term of a modified first mortgage loan.


