12 CFR § 1248.8 - exception.
---
identifier: "/us/cfr/t12/s1248.8"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1248.8 - exception."
title_number: 12
title_name: "Banks and Banking"
section_number: "1248.8"
section_name: "exception."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "C"
subchapter_name: "ENTERPRISES"
part_number: "1248"
part_name: "UNIFORM MORTGAGE-BACKED SECURITIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1451 note; 1716; 4511; and 4526."
regulatory_source: "84 FR 7799, Mar. 5, 2019, unless otherwise noted."
cfr_part: "1248"
---
# 1248.8 exception.
FHFA may exclude from the requirements of this part covered programs, policies, or practices of an Enterprise as long as those covered programs, policies, or practices do not affect more than $5 billion in unpaid principal balance of that Enterprises' TBA-eligible MBS.