Hunt presses for CUs’ secondary-market access
NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt
Sept. 12, 2013 – NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt wrote the leaders of the Senate Banking Committee Wednesday to emphasize the importance of credit unions having guaranteed access to the secondary mortgage market.
Hunt wrote to panel Chairman Tim Johnson, D-S.D., and Ranking Member Michael Crapo, R-Idaho, in advance of today’s committee hearing, titled “Essential Elements of Housing Finance Reform.”
“The liquidity the current system provides is absolutely critical in enabling credit unions to serve the mortgage needs of their member-owners,” Hunt wrote. “Access to the market in the form of a government guarantee also helps stabilize the market in times of economic downturn.”
Hunt also emphasized the need for fair pricing that is not based on an institution’s size or loan volume. She pointed out that credit unions were not to blame for the financial crisis and are known for “solid underwriting that creates high-quality loans.”