WASHINGTON—FHFA Director Sandra Thompson has offered some direction around the agency’s posture regarding pilot programs and the purchase of more noncomforming loans from CDFIs.
Thompson’s insights were shared during a hearing on the FHFA by the House Financial Services Committee.
During questioning, Rep. Al Lawson (D-FL) asked Thompson where the FHFA stands on creating pilot programs that will allow the government-sponsored enterprises (GSEs) to purchase more nonconforming loans from community development financial institutions (CDFIs).
In response, Thompson explained that the FHFA earlier this year required the GSEs to submit Equitable Housing Finance Plans to identify and address barriers to sustainable housing opportunities, NAFCU reported.
In addition, during the hearing Lawson also had questions about the threats posed to the housing finance system by climate change and asked Thompson what the FHFA is doing to confront those challenges. Thompson responded by saying the FHFA examines climate change through the lens of natural disasters and the agency is seeking to position the GSEs so that they are well-equipped to handle these disasters.
“Making sure that we have good programs in place to help borrowers in their time of need is very important,” said Thompson.
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