CUNA President/CEO Jim Nussle discussed how credit unions are serving members during the pandemic, and what the Federal Housing Finance Agency (FHFA) could do to help, Tuesday with FHFA Director Mark Calabria. CUNA previously wrote to Calabria outlining ways the agency could help credit unions assist members better.
“Credit unions have a vested interest in keeping members in their homes and have worked diligently throughout this crisis to work alongside members to offer assistance and other relief as necessary,” Nussle said. “I shared this with Director Calabria, as well as the feedback we’ve heard from our members about what policy changes could help credit unions increase outreach to affected members and communities, and I thanked him for his time.”
CUNA previously said that liquidity assistance, clear guidance and additional regulatory relief would help credit unions work better with mortgage borrowers.
Some specific recommendations CUNA has made to the FHFA include:
FHFA announced Tuesday that it was extending loan processing flexibilities through at least June 30.