FOR IMMEDIATE RELEASE
September 30, 2019
Credit Union National Association (CUNA) Official Statement Regarding Fannie Mae and Freddie Mac Earnings
“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. 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.” - Jim Nussle, President/CEO
CUNA supports the agreements announced Monday that Fannie Mae and Freddie Mac will retain keeping their earnings as part of an administration process designed to move them out of conservatorship.
CUNA strongly supports housing finance reform principles that ensure community lenders such as credit unions are a part of the system, principles that include:
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.