Removing Barriers Blog

Letter Sent Prior to Today’s Hearing on Housing Finance Reform
Posted May 11, 2017 by CUNA Advocacy

Today the Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing entitled, “Status of the Housing Finance System after Nine Years of Conservatorship.”  Prior to the hearing, CUNA sent a letter to Chairman Crapo and Ranking Member Brown highlighting credit union’s interest in the current and future structure of the housing finance system.   

CUNA supports the creation of an efficient, effective, and fair secondary market with equal access for lenders of all sizes, which adheres to the following principles: 

  • Neutral Third Party 

  • Equal Access 

  • Strong Oversight and Supervision 

  • Durability 

  • Financial Education 

  • Predictable and Affordable Payments 

  • Loan Limits 

  • Affordable Housing 

  • Mortgage Servicing 

  • Reasonable and Orderly Transition 

At the end of March, CUNA participated in a panel discussion for Senate staff to hear the small lender perspective on housing finance reform.  Similar sentiments to the letter were also presented during the panel discussion. 

CUNA looks forward to working with the Chairman and Ranking Member on housing finance reforms to ensure the future structure is fair to credit unions and other small lenders.