ARLINGTON, Va.–Will this be the Congress that finally tackles housing reform and the conservatorships of Fannie Mae and Freddie Mac? As CUToday.info reported here, Senate Banking Committee Chairman Mike Crapo (R-ID) has listed housing reform among the issues his committee plans to tackle in the new Congress.
But Carrie Hunt, EVP and general counsel with NAFCU, said she is “skeptical” that much progress will be made this year in Congress around the issue, although she acknowledged there has been considerable “debate” over how to proceed.
Hunt noted that NAFCU has been working to make progress on housing reform with the regulatory agencies, including the FHFA, as CUToday.info reported most recently here.
“From our perspective, the Crapo (statements) show Congress will not be left out of this discussion,” said Hunt.
Hunt said that while NAFCU supports reform of the GSEs, which have been operating under federal conservatorship for a decade now, the trade group continues to support a government guarantee related to the secondary mortgage market. She added credit unions have continued to benefit under the conservatorships from the equalization of pricing.