The Federal Housing Finance Agency should work to ensure that Fannie Mae and Freddie Mac activities, including credit risk transfers, do not give advantages to lenders that conduct larger amount of business with the enterprises, CUNA believes.
CUNA met with Federal Housing Finance Agency Wednesday to urge the agency to reconsider adding language preference to its Uniform Residential Loan Application. This week 55 members of Congress sent a letter to FHFA Director Mel Watt with concerns.
Loan level price adjustments charged by government-sponsored enterprises Fannie Mae and Freddie Mac need to be reduced or eliminated, CUNA and other organizations wrote to Federal Housing Finance Agency Director Mel Watt this week.
CUNA joined with several other trade organizations this week to raise compliance and legal concerns with the Federal Housing Finance Agency’s potential change to the new Uniform Residential Loan Application asking borrowers to indicate their language preference.
WASHINGTON (3/18/16)--CUNA generally believes enabling and maximizing the purchasing and guaranteeing of private market loans is the best approach for the Federal Housing Finance Agency’s oversight of Fannie Mae and Freddie Mac.
With CUNA’s Bank Secrecy Act Conference, hosted in conjunction with the National Association of State Credit Union Supervisors, coming up next month, CUNA’s compliance staff went into detail of the NCUA’s BSA compliance program in a recent CompBlog entry.
The NCUA’s Tuesday announcement that it will repay the U.S. Treasury in full is a good sign for credit unions, said CUNA Chief Policy Officer Bill Hampel. The agency will repay the $1 billion outstanding balance before Oct. 31.
CUNA is overall supportive of proposed changes to the TRID rule, but asks the CFPB to continue to work on existing issues. CUNA submitted its comment letter Monday to the bureau on the proposed changes.