GOP panel members anxious to move measure along while Democrats ask to wait until after recess to allow public input.
WASHINGTON — NCUA Board hopeful Richard Metsger’s nomination was unanimously approved Thursday morning by the Senate Banking Committee.
Bill rolled out by House GOP last week would eliminate Fannie and Freddie and modify qualified mortgage regulations.
Thursday hearing will focus on secondary mortgage market reform bill.
Trade group says it does have some concerns while California Democrat says bill is partisan ideology and another attack on middle class.
GOP-backed measure would create the "National Mortgage Market Utility" regulated by FHFA.
New Hampshire credit union wants more than $655,000 and mortgage servicing rights from Michigan-based CUSO Development Co.
FHFA says more than 2.5 million housing finance loans have now been done through HAP since 2009.
During his June 27 confirmation hearing, NCUA Board nominee Richard Metsger dodged what might have been his most controversial question. Is raising the member business lending cap a good idea?
Sens. Mark Warner (D-Va.) and Bob Corker (R-Tenn.) introduced legislation June 26 that would reform America’s housing finance system by replacing the government-sponsored enterprises Fannie Mae and Freddie Mac with a privately capitalized system.