Under the proposed rule, eligible federal credit unions may purchase the mortgage servicing rights of loans, provided these investments are consistent with safety and soundness, and are in accordance with its risk management policies and procedures that address investments and servicing practices.
Comments on the proposed rule must be received within 30 days of publication in the Federal Register.
Doeren Mayhew’s Financial Institutions Group will keep you updated as the rule progresses.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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