OAR 441-720-0375
Available Waivers for Specific Loan Types
(1)
Loan to value ratios under 441-720-0320 (Collateral and Security Requirements).(2)
Unsecured loan limit under 441-720-0320 (Collateral and Security Requirements) not to exceed $100,000.(3)
Maximum loan amount to one borrower or associated group of borrowers under 441-720-0330 (Aggregate Loans to a Member or Associated Members).(4)
Construction and development loan limits under 441-720-0355 (Construction and Development Lending).(5)
Requirement for personal liability and guarantee under 441-720-0320 (Collateral and Security Requirements).(6)
If a credit union is requesting a waiver of appraisal requirements of 12 C.F.R. 722.3 from the NCUA, the credit union shall:(a)
File the request with the Director; and(b)
If the Director approves the request, the Director will promptly forward the request to the Regional Director of Region VI of the NCUA (or if it is the Corporate Credit Union to the Director of the Office of Corporate Credit Unions of NCUA) for decision under NCUA rules at 12 C.F.R. 723.12; or(c)
If the Director does not approve the request, the Director will return the request to the credit union with reasons for the disapproval and provide the NCUA with notice of the Director’s decision.(d)
The waiver is not effective until the Regional Director of Region VI of the NCUA (or the Director of the Office of Corporate Credit Unions) approves it in accordance with NCUA rules at 12 C.F.R. 723.12.
Source:
Rule 441-720-0375 — Available Waivers for Specific Loan Types, https://secure.sos.state.or.us/oard/view.action?ruleNumber=441-720-0375
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