October 20, 2017

Tower FCUs' Stafford testifies for NAFCU Wednesday on housing finance

Rick Stafford, president and CEO of Tower Federal Credit Union (Laurel, Md.), will testify on NAFCU's behalf Wednesday delivering the credit union perspective on housing finance reform during a hearing held by a House Financial Services subcommittee.

The hearing, entitled "Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform," is being held by the Subcommittee on Housing and Insurance, and is slated to begin at 10 a.m. Eastern.

Stafford 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.

NAFCU submitted its core principles to the committee earlier this summer. The association also talked through its housing principles and priorities last month with Housing and Urban Development Secretary Ben Carson.