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.
From East and West, Midwest and South, credit union people in the news.
CUNA economist on panel of industry experts selected by Rep. Maxine Waters (D-Calif.) to discuss finance reform legislation.
CUNA Chief Economist Bill Hampel will be among panelists at a congressional discussion on plans to reform the secondary mortgage market.
Jerry Reed, chief lending officer from the $5.3 billion Alaska USA FCU, told lawmakers during a June 18 hearing on the Consumer Financial Protection Bureau’s qualified mortgage rule that products and product features were responsible for the mortgage market meltdown, not underwriting standards.
Senate gets measure Tuesday that would shut down Fannie Mae, Freddie Mac and FHFA within five years and create new corporation similar to FDIC.
Lending officer to tell House panel on Tuesday that CFPB qualified mortgage rule severely restrict lending.
National Association of Realtors says sellers market continues.
National Association of Realtors said limited inventory is now holding back the market in many areas.
For credit unions wanting to grow their purchase-mortgage portfolios, the secret is online.