Housing finance reform, Fed top hearing slate

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Dec. 9, 2013 – NAFCU will closely monitor this week’s congressional hearings on housing finance reform and more for signs of coming developments that could have an impact on the credit union industry.

A Senate Banking Committee hearing Tuesday – “Housing Finance Reform: Fundamentals of Transferring Credit Risk in a Future Housing Finance System” – will feature testimony from the deputy director for the Office of Strategic Initiatives at the Federal Housing Finance Agency, the vice presidents of Freddie Mac and Fannie Mae, and the vice president of analytic services at Mortgage Guaranty Insurance Corporation.

NAFCU is urging Congress to preserve credit unions’ guaranteed access to the secondary mortgage market in any iteration of housing reform and to ensure fair pricing based on loan quality instead of volume.

On Thursday, the House Financial Services Committee will hold a hearing titled “Rethinking the Federal Reserve’s Many Mandates on Its 100-Year Anniversary.” Wednesday, the panel will hear the Treasury secretary’s annual testimony on the state of the international finance system.

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Housing finance reform