CUNA strongly supports the goal of facilitating responsible innovation and FHFA’s efforts to identify barriers and challenges in implementing fintech in the housing finance ecosystem. CUNA sent comments in response to an FHFA request for information on fintech in housing finance.
Credit unions are integral to achieving the Federal Housing Finance Agency’s (FHFA) housing mission and goals, CUNA wrote to House Financial Services leadership prior to its semiannual hearing on FHFA oversight hearing and FHFA Director Sandra Thompson's testimony.
The Federal Housing Finance Agency (FHFA) issued a final rule requiring Fannie Mae and Freddie Mac to submit annual capital plans to the FHFA for review and approval, a step toward capitalization and reform of Fannie and Freddie.
The Senate confirmed Sandra Thompson as director of the Federal Housing Finance Agency Wednesday by a 49-46 vote. Thompson has served as acting director since June 2021, and has met with CUNA leaders while at the agency.
Proposed amendments to the FHFA's Enterprise Regulatory Capital Framework would allow or more accurate assessments of capital requirements for the government-sponsored enterprises, and better facilitate their ability to meet their missions.
CUNA applauds the Federal Housing Finance Agency for setting ambitious goals for Fannie Mae and Freddie Mac, it wrote to the FHFA Monday. The FHFA is required by statute to establish annual housing goals for Fannie and Freddie.
The FHFA last week released further proposed amendments to the regulatory capital framework rule for the GSEs intended to remove inappropriate capital disincentives to the Enterprises to transfer risk.
The Federal Housing Finance Agency issued a Policy Statement on Fair Lending communicating its "commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks" and providing a foundation for building out FHFA's fair lending program.
Several FHFA issues require immediate attention, CUNA wrote new FHFA Director Sandra Thompson Wednesday. CUNA also reiterated its principles for housing finance reform and its support for eventual exit from conservatorship by the Fannie Mae and Freddie Mac
The FHFA can take several steps to address the racial wealth gap and the racial homeownership gap, CUNA Senior Director of Advocacy and Counsel Elizabeth LaBerge told an FHFA listening session on closing the gap to sustainable homeownership.