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Charles Purvis, president and CEO of Coastal Federal Credit Union in Raleigh, N.C., will testify on NAFCU's behalf regarding principles for housing finance reform during a July 20 hearing by the Senate Banking Committee.

Purvis will testify before the panel on NAFCU's core principles for housing finance reform and on ways such reform could affect credit unions and their members' access to mortgage credit. NAFCU is working to ensure that any housing finance reform plan includes unfettered access to the secondary mortgage market for credit unions, with fair pricing based on loan quality rather than volume.

Chaired by Sen. Mike Crapo, R-Idaho, the Senate Banking Committee is looking at a broad array of issues related to reforming housing finance, including how to preserve a secondary mortgage market and the future of entities like Fannie Mae and Freddie Mac, which have been in conservatorship since 2008, as well as the Federal Home Loan Banks.

NAFCU submitted its core principles to the committee in advance of its June 29 hearingon this issue and is urging their inclusion in any final reform plan.

The July 20 hearing is set for 10 a.m. Eastern.