The bulk of credit union and CUSO mortgage programs will see minimal impact from Fannie Mae and Freddie Mac limiting the secondary market to only qualified mortgages, according to credit union and CUSO executives.
However, credit union's ability to offer more tailored housing finance loans or some to lower-income members may be restricted by the move, other executives argued.
The two government-owned housing finance giants announced their regulator, the Federal Housing Finance Administration, had ordered the move May 6.
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