Member feedback improves BECU’s mortgage process

Comments on CUSO proposal, QM rule due in April

March 30, 2021

Comments on several proposals of importance to credit unions are due in April, including an extended deadline for NCUA’s proposal on Credit Union Service Organizations (CUSOs).

The proposal would expand the list of permissible activities and services for CUSOs to include originating any type of loan a federal credit union may originate; and granting the NCUA board additional flexibility to approve permissible activities and services.

NCUA is also seeking comment on broadening FCU investment authority in CUSOs. NCUA announced the extended comment deadline last week, comments are now due April 30.

Other comment deadlines in April include:

  • April 5: Consumer Financial Protection Bureau (CFPB) proposal to delay the mandatory compliance date of the final Qualified Mortgage rule until October 22, 2022; and
  • April 19: Federal Housing Finance Agency request for information on the current and future natural disaster risk to the housing finance system and to Fannie Mae and Freddie Mac and the Federal Home Loan Banks.