Homeownership has been U.S. public policy since the Franklin Roosevelt Administration. The GSEs were chartered as a matter of public policy, to ensure that a constant source of affordable credit would be available to all geographic regions of the U.S. so that people everywhere could become homeowners. It’s worked. Homeownership rates are high – almost 70% of households own homes. Access to credit is readily available; homeowners enjoy abundant financing options through a host of lending institutions, including credit unions. Fannie Mae and Freddie Mac are key players in that success. It is hard to imagine that our lawmakers intended to turn all housing finance decisions over to an oligopoly of large banks. It wasn’t their intent then, and should not be their intent now. Legislation that tightens oversight and strengthens financial controls will make our system stronger than it is today. Legislation that stifles innovation and hands control of housing finance to an oligopoly will do nothing but drive the cost of homeownership higher and out of reach of many potential buyers. Fewer homeowners means a weaker U.S. economy.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.