WASHINGTON–NAFCU’s Carrie Hunt will testify today before the Senate Banking Committee as it reviews legislative solutions to reform housing finance.
Hunt, NAFCU's executive vice president of legislative affairs and general counsel, will share the trade group’s perspective during one of the two hearings being held by the committee to discuss a proposal from Committee Chairman Sen. Mike Crapo (R-ID), which includes some provisions NAFCU said align with its position on reform.
Reform of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac has been under discussion since the two entities were placed in conservatorship following the financial crisis of a decade ago. The Trump Administration has also indicated it plans to put forward a reform plan of its own.
Both CUNA and NAFCU have also advocated for reform, with both groups calling for any final reform measures to ensure credit unions maintain access to the housing markets.
“NAFCU has led efforts to ensure credit unions' unfettered access to the secondary mortgage market in any housing finance reform, and has urged the Trump administration and Congress to work together on a comprehensive solution,” the trade association stated.