The federal government has a very important role to ensure the secondary market operates efficiently, effectively and fairly for borrowers and lenders alike. Credit unions have some concern about a world in which the secondary mortgage market is occupied by a handful of very large banks. Credit unions create much needed competition in the secondary marketplace, which in turn, helps to keep rates low and allows more options to consumers.
As Congress considers comprehensive housing finance reform, credit unions must continue to have access to the secondary mortgage market.
Housing Finance Reform Talking Points
One page document outlining the major arguments regarding housing finance reform.
Coalition letter in opposition to G Fees as revenue in budget agreements
Missouri Delegation letter urging CFPB Director Cordray to delay Dodd Frank Mortgage Rules
Senate Letter Urging CFPB to Delay New Mortgage Rules
Congressional letter urging CFPB Director Cordray to delay Dodd Frank Mortgage Rules
Testimony of Bill Hampel, SVP and Chief Economist, Credit Union National Association – 11/5/2013
Senate Committee on Banking, Housing and Urban Affairs
Testimony of Bill Hampel, SVP and Chief Economist, Credit Union National Association - 7/23/13
Senate Subcommittee on Securities, Insurance and Investment Committee on Banking, Housing and Urban Affairs
Testimony of Jerry Read, Chief Lending Officer Alaska USA FCU - 6/18/13
House Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit
Testimony of Suzanne B. Longson, Vice President of Business Development and Community Relations for SCE Federal Credit Union - 3/15/12
House Subcommittee on Financial Institutions & Consumer Credit Union National Association, Inc.
Testimony of Rod Staatz, President and CEO of SECU of Maryland - 6/28/11
Senate Banking Committee
CUNA Testimony at Access to the Secondary Market for Small Financial Institutions Hearing
Testimony of Rod Staatz, President and CEO of SECU of Maryland, on behalf of CUNA, before the Senate Banking Committee Hearing on Housing Finance Reform - 6/28/11