NAFCU: The credit union perspective on housing finance reform

As talks surrounding housing finance reform persist, the National Association of Federally-Insured Credit Unions published its own thoughts on the matter to ensure the safety of the credit union.

National Association of Federal Credit Unions President and CEO Dan Berger welcomes attendees to the Defense Credit Union Summit held just before NAFCU s annual conference in Nashville, Tenn., this week.

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President and CEO, Tower Federal Credit Union, on behalf of the National Association of Federally-Insured Credit Unions (NAFCU) Added 10/25/2017 at 10:19 AM. Witness Statement Added 10/25/2017 at 10:21 AM; Witness Truth in Testimony Added 10/25/2017 at 02:36 PM

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housing finance reform ideas from the perspective of all stakeholders. NAFCU is the only national organization exclusively representing the interests of the nation’s federally-insured credit unions. NAFCU-member credit unions collectively account for approximately 69 percent of the assets of all federally chartered credit unions.

NAFCU has called for the inclusion of an explicit government guarantee in any housing finance reform efforts as well as recapitalizing Fannie Mae and Freddie Mac. It has also favored loosening lending rules that would allow credit unions to make more business loans by doubling the business lending cap to 27.5%.

Housing finance reform will also be a major focus. Reform that guarantees access to the secondary mortgage market for credit unions and ensures fair pricing based on loan quality, not just volume. NAFCU will also continue to advance the adoption of national data security standards for all that hold consumers’ personal financial data (similar to.

NAFCU has previously met with Treasury Department Secretary Steven Mnuchin and Treasury Counselor Craig Phillips, as well as Dr. Mark Calabria, who is awaiting Senate confirmation to serve as FHFA director, to discuss these efforts and share the association’s core principles for housing finance reform.

The National Association of Federally-Insured Credit Unions (NAFCU) has issued what it describes as its "core principles" for balancing federal housing finance reform with the specific needs of the credit union industry. NAFCU cited the need for "an explicit government guarantee on the payment.

As talks surrounding housing finance reform persist, the National Association of Federally-Insured Credit Unions published its own thoughts on.