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NAFCU members now have until Sept. 12 to submit comments to the association on the Federal Housing Finance Agency's request for input on how Fannie Mae and Freddie Mac can shift more mortgage-market risk to private investors, thus moving more risk away from taxpayers.

Member credit unions can submit their comments via NAFCU's Regulatory Alert, which outlines FHFA's request for input and provides further background on the issue. FHFA extended its comment deadline to Oct. 13.

The government-sponsored enterprises, which buy home loans and package them into securities, have been experimenting with programs that give private investors a part of those deals since 2012. Since 2013, the companies have transferred about $30.6 billion in credit risk to outside interests.

NAFCU's Regulatory Alert on this request for input notes that FHFA recognizes that smaller lenders may not be able to participate in some of the front-end transactions under consideration, so other ideas that will lead to a more level playing field are encouraged.

NAFCU continues to urge FHFA to ensure that any housing finance reform guarantees credit unions access to the secondary mortgage market and fair pricing based on loan quality rather than volume.