The Federal Housing Finance Agency approved an ICBA-supported rule that improves the process to approve New Business Activities from a Federal Home Loan Bank. The plan should improve the types of NBAs submitted for FHFA approval and provide a more responsive timeline to the FHLBanks, ICBA wrote in an October comment letter.
The agency also finalized a separate rule amending Acquired Member Assets rules for FHLBanks. This rule removes references to credit rating agencies and allows Participating Financial Institutions to transfer AMA mortgage servicing to other mortgage servicers, including nonmember institutions.
For more information, contact ICBA’s Ron Haynie at email@example.com.