Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA Releases MBL Waiver Guidance
ALEXANDRIA, Va. (2/25/13)--The National Credit Union Administration has clarified the what, when and how of member business loan (MBL) waivers in a new letter to credit unions (13-CU-02), an attached supervisory letter, and supervisory guidance.

The guidance will help credit unions understand the MBL waiver process, and aid them as they work to maintain safe and sound MBL portfolios, NCUA Chairman Debbie Matz said.

This is the first time the agency has released these types of MBL waiver documents. Matz noted that the release of the documents was prompted in part by discussions at agency listening sessions held throughout the country.

The agency guidance details what must be included in a waiver application and how the agency reviews that application.

The guidance also addresses:
  • What types of MBL waivers are available;
  • When and how credit unions can obtain MBL "blanket" waivers;
  • When waivers are not needed for actions related to maintaining existing loans;
  • Which of the borrower's principals are required to provide a personal guarantee and the type of guarantee required based on different business ownership structures;
  • What constitutes an associated borrower;
  • Waiver documentation requirements; and
  • New NCUA procedures meant to streamline the process for obtaining waiver for credit unions buying a participation interest in an MBL.
For the NCUA MBL waiver documents, use the resource links.
RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
1 day ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
1 day ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
1 day ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
1 day ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
1 day ago