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.
The second phase of Same Day ACH rollout has a Sept. 15 effective date, and a list of recommended action items to be performed has been released. All financial institutions must be prepared to receive by Sept. 15.
As Congress works this week to fund the government past April 28, CUNA will be engaged in the process as it seeks to see 2 particular issues addressed: funding for CDFIs and the CFPB's exemption authority.
CUNA stands ready to work with legislators to see regulatory relief enacted into law, and the CHOICE Act is a good first step, CUNA wrote to House Financial Services Committee leadership Tuesday in advance of a hearing on the bill.