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September 30, 2022

NAFCU's Housing Finance Working Group discusses AVMs and RFIs

Housing Finance Working GroupThe NAFCU Housing Finance Working Group held a meeting Thursday where member credit unions and NAFCU staff reviewed the latest legislative and regulatory updates regarding the housing finance system.

Topics discussed include: 

·       the Federal Housing Finance Agency’s (FHFA) request for information (RFI) regarding the role of fintechs in housing finance and how the FHFA can facilitate responsible innovation (comments are due to NAFCU today in response to this RFI); 

  •       the CFPB’s RFI seeking ways to incentivize new mortgage products that assist households with refinancing, automatic forbearance, and long-term loss mitigation assistance;
  •       the requirements of using Automated Valuation Models (AVMs) and credit unions’ experiences using AVMs in rural areas; and
  •       the Federal Home Loan Banks system review and the FHFA listening session, which NAFCU will participate in today.

NAFCU will continue to advocate on behalf of the credit union industry’s best interests in the housing finance system. The Housing Finance Working Group will next meet during the last week of December.