Policymakers should cement recent government-sponsored entity (GSE) reforms and look to complete additional necessary reforms, CUNA wrote Wednesday. CUNA and other trade organizations sent a letter for the record of a House Financial Services Committee hearing on GSEs.

Together, we urge policymakers to lock in recent reforms to GSEs and complete the necessary additional reforms to protect taxpayers, provide liquidity and promote stability while taking care not to roll back aspects of GSEs’ operations that are supporting the foundation of the housing market,” the letter reads. “Only through such efforts can we ensure an affordable, accessible housing finance market that works for American homeowners and renters alike.”

Reforms put in place during conservatorship that have better positioned the GSEs to continue to play their role in facilitating mortgage liquidity include:

• Pricing parity across lenders;
• The transfer of risk away from taxpayers;
• A new infrastructure for the single-family secondary market; and
• Support for strong and sustained liquidity in the multifamily rental market.

CUNA supports housing finance reform that provides equitable access and pricing to secondary market liquidity for lenders of all sizes and charter types, and which fosters access to affordable and predictable mortgage products for homebuyers.