WASHINGTON—Federal Housing Finance Agency (FHFA) Director Sandra Thompson told credit unions here it is sorting through feedback on a new proposal, while NCUA Vice Chairman Kyle Hauptman discussed NCUA’s proposals around distributed ledger technologies.
Regarding the FHFA’s request for information on the government-sponsored enterprises’ single-family pricing framework, Thompson told NAFCU’s Congressional Caucus, “We received 170 comments and we are reading them all. Many comments are asking us to take a look at the capital requirements…We want to be judicious in how we approach this.”
Thompson further discussed the appraisal process and what the agency is doing to promote appraisal modernization to expand access and streamline the process. Earlier this year, the FHFA, NCUA, and four additional federal financial regulators issued a proposed rule related to automated valuation models.
Hauptman Discussed DLT
Hauptman, meanwhile, provided attendees with updates on the NCUA and offered his support for emerging financial technologies. He discussed the NCUA’s Letter to Credit Unions regarding credit union use of distributed ledger technologies (DLT) in connection with permissible credit union activities and praised the industry for utilizing the technology.
“Every new technology has problems,” he told the group.
“You are part of something very unique to this country,” he said, discussing the “uncommon nature” of the credit union industry, and noting the varied size and field of membership found across the country.
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