CUNA Chief Advocacy Officer Ryan Donovan thanked Sen. Mike Crapo (R-Idaho), chair of the Senate Banking Committee, for his initiative in addressing housing finance reform after Crapo released an outline of legislation on Friday.
“America’s credit unions play an increasingly vital role in the housing finance marketplace and depend upon the secondary market to provide liquidity for mortgage credit. We applaud Chairman Crapo for his initiative in proposing a legislative solution to one of the most important, unresolved issues remaining from the financial crisis—reforming the secondary mortgage market. Credit unions look forward to engaging with both the Chairman and the Senate Banking Committee as this outline continues to develop into legislation and CUNA is committed to working to ensure that the secondary market of the future includes equal and fair access to credit unions,” Donovan said.
CUNA has consistently supported the creation of an efficient, effective and fair secondary market with equal access for lenders of all sizes.