CUNA supports the Federal Housing Finance Agency’s (FHFA) enterprise housing goals for 2018-2020, it wrote to the agency Tuesday. CUNA’s letter was in response to FHFA’s proposal on 2018-2020 housing goals for government-sponsored enterprises Fannie Mae and Freddie Mac.
“The safety and soundness of Fannie Mae and Freddie Mac (the Enterprises) is very important to credit unions, and should remain a top mission of the FHFA in overseeing the operation of the Enterprises,” the letter reads. “CUNA supports efforts to implement strong risk management at all of the entities that FHFA regulates.”
The 2018-2020 benchmarks for single family purchases remain essentially the same as in prior years.
In addition, CUNA recognizes that FHFA’s objective is to set benchmarks to its market projections, not to influence the market.
CUNA also urged FHFA to ensure credit unions and other lenders continue to have access to liquidity on terms that are equitable.
“This means that terms, rates, or conditions for selling loans in the secondary market or accessing liquidity from the Federal Home Loan Banks must be affordable and fair to all lenders, regardless of their size or charter type,” the letter reads. “CUNA believes FHFA should continue to work with lenders, including credit unions, to improve and promote the housing market.”
Additional details, including a link to the letter, can be found on CUNA’s Removing Barriers Blog.