April 16, 2014

NAFCU at White House again, updates CUs on housing finance reform

April 17, 2014 – NAFCU's senior staff, in a new video, updated credit unions on the status of housing reform discussions in Congress and action NAFCU is taking to ensure credit unions' interests in any final housing reform plan.

"For NAFCU, our key concerns for credit unions are access to the secondary market that's guaranteed and access that doesn't come at a cost that makes it really impossible to do business," said NAFCU's Carrie Hunt, senior vice president of government affairs and general counsel.

Joining Hunt in Wednesday's NAFCU Today video were NAFCU Vice President of Legislative Affairs Brad Thaler and Director of Legislative Affairs Jillian Pevo. Thaler attended another stakeholders meeting at the White House on housing finance Wednesday. That meeting centered on the issue of private mortgage insurance.

In the video, Hunt, Thaler and Pevo provided a broad overview of current discussions on housing finance reform, including, among other things, the reform proposal drafted by Senate Banking Committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho, and currently slated for mark-up April 29. NAFCU recently weighed in on that draft in a letter sent jointly with CUNA and the Independent Community Bankers of America that urged lawmakers to be mindful of the costs of transitioning to a new housing finance model.

NAFCU President and CEO Dan Berger and senior staff also met Tuesday with Federal Housing Finance Agency Director Mel Watt.