WASHINGTON—CUNA is expressing its strong support for the three goals included in the Federal Housing Finance Agency’s (FHFA) strategic plan, stating credit unions have a “substantial interest” in effective-functioning FHFA-regulated entities, including Fannie Mae, Freddie Mac and the Federal Home Loan Bank (FHLB) system.
CUNA filed comments in response to FHFA’s request for feedback on its strategic plan for fiscal years 2021-2024.
FHFA goals for its oversight (and CUNA’s responses) are:
Ensure Safe and Sound Regulated Entities Through World-Class Supervision
CUNA said it believes that strong oversight and supervision is required to protect the safety and soundness of the FHFA-regulated entities through all economic cycles. “The important public missions of the FHLBs and GSEs cannot be carried out successfully unless FHFA ensures accountability and effective corporate governance and creates an equal playing field for all market participants, including our nation’s credit unions,” CUNA wrote.
Foster Competitive, Liquid, Efficient and Resilient (CLEAR) National Housing Finance Markets.
CUNA said it strongly supports this strategic goal and notes that removing volume discounts or similar barriers for smaller lenders is a critical prerequisite for ensuring that FHFA fosters a CLEAR national housing finance market.
Position the Agency as a Model of Operational Excellence by Strengthening the Workforce and Infrastructure.
CUNA said it is pleased to see the efforts FHFA is undertaking to help strengthen its workforce, particularly through the recruitment of a high quality, diverse team.