May 31, 2022· Comment Submitted by Cooperative Credit Union Association· HUD-2022-0024-0015
On behalf of its member credit unions, the Cooperative Credit Union Association, Inc. ("Association") appreciates the opportunity to comment on the Department of Housing and Urban Development's (HUD) proposed regulation on the Increased Forty-Year Term for Loan Modifications, which would allow credit unions and other lenders to modify mortgages insured by the Federal Housing Administration (FHA) to a term of as much as 480 months from the current maximum of 360 months.