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The Federal Housing Finance Agency (FHFA) yesterday released its final 2018-2022 strategic plan, which – as proposed – includes some of the specific principles for housing finance reform advocated for by NAFCU.

The plan states several goals the FHFA hopes to achieve in the next few years, including the promotion of policies and practices by the government-sponsored enterprises (GSEs) that would provide "fair access to finance and financial services for all eligible financial institutions and qualified borrowers." On this goal, the FHFA will work with the Federal Home Loan Banks (FHLBs) and GSEs.

The agency will also work to ensure liquidity in the market and finalize the implementation of the Common Securitization Platform.

Commenting on the proposed plan in October, NAFCU said credit unions rely heavily on the GSEs and FHLBs in their work to provide their members with superior loan products. The GSEs provide credit unions with liquidity and them help manage interest-rate risk on their balance sheets.

NAFCU also made several suggestions to the FHFA in its October letter that would "create a better housing finance market for credit unions and their members."

Credit unions have a strong role in maintaining the health and stability of the nation's housing market, especially as it relates to the secondary mortgage market. NAFCU has led efforts to give credit unions equal access to the market and fair pricing based on loan quality rather than volume of loans.