CUNA supports the agreements announced Monday that Fannie Mae and Freddie Mac will retain their earnings as part of an administration process designed to move them out of conservatorship.
“CUNA applauds efforts by the Federal Housing Finance Agency and the Department of the Treasury to modify the existing agreements and allow both Fannie Mae and Freddie Mac to retain additional capital,” said CUNA President/CEO Jim Nussle. “CUNA has been a long-standing proponent of federal efforts to ensure that any federal housing finance reform efforts are designed to ensure a smooth transition to any modified secondary market for mortgage loans for smaller lenders that also recognizes the importance of credit unions and the role they play in providing access to mortgage credit.”
CUNA strongly supports housing finance reform principles that ensure community lenders such as credit unions are a part of the system, principles that include: