Berger meets with incoming Freddie Mac CEO to talk housing
NAFCU President and CEO Dan Berger met yesterday with newly-appointed Freddie Mac CEO David Brickman to discuss issues related to the housing market, including emerging technologies in the mortgage banking space and recent developments at the government-sponsored enterprises (GSEs).
Berger was joined in the meeting by NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, Vice President of Research and Chief Economist Curt Long and Director of Regulatory Affairs Ann Kossachev. The group also discussed affordable housing efforts.
NAFCU acknowledges that fintech can produce real benefits to consumers, however, the association has urged lawmakers and regulators to ensure a level playing field between fintech companies and financial institutions, from data security to consumer protection.
Earlier this month, Federal Housing Finance Agency Director Mark Calabria indicated that the GSEs would be released from government conservatorship in the near future, but hoped that Congress would lead the effort by passing housing finance reform first.
Hunt recently testified before the Senate Banking Committee on credit unions' priorities for housing finance reform, many of which align with Calabria's and the Trump administration's positions on the issue.
NAFCU continues to lead efforts to ensure credit unions' unfettered access to the secondary mortgage market in any housing finance reform and has urged the Trump administration and Congress to work together on a comprehensive solution. Berger also recently met with Fannie Mae's CEO.
In November, NAFCU provided comments to the FHFA on its proposed capital rule for the GSEs. The association generally supports the proposal, but recommended the FHFA allow the GSEs to submit capital restoration plans as allowed under the Housing and Economic Recovery Act – a provision that makes clear Congress envisioned a path to remove the GSEs from conservatorship. NAFCU also argued that restoration plans shouldn't be approved until Congress has agreed to codify certain safeguards.
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Add to Calendar 2020-09-21 14:00:00 2020-09-21 14:00:00 Member Business Lending in Relation to COVID Impacting Loans Millions of lives and businesses have been changed by the COVID-19 pandemic. The lasting impacts of COVID-19 – both physically and economically – are still unknown, and the world continues to find ways to adjust in order to meet the difficulties caused by the disease head on. Credit unions have had to respond swiftly and thoughtfully to match the evolving needs of their communities and members, and other affected industries. Eviction moratoriums, payment deferrals, loan modifications and the birth of the Paycheck Protection Program and the terms of loan forgiveness, including the efficacy of these policies to date, are a few of the topics examined in this webinar. Key Takeaways Understand how COVID-19 has dramatically changed the world of commercial lending Examine how financial institutions have responded to the problems created or exacerbated by COVID-19 Review the key aspects of the Paycheck Protection Program under the CARES Act, and other available relief Register NowRegistration is complimentary, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until September 21, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMs) Chief Executive Officers (CEOs) Chief Lending Officers (CLOs) Lending, risk, marketing and business development staff Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar NCRMs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Understand how COVID-19 has dramatically changed the world of commercial lending. Examine how financial institutions have responded to the problems created or exacerbated by COVID-19. Review the key aspects of the Paycheck Protection Program under the CARES Act, and other available relief. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Finance - Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCCO, NCRM, CPE
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