WASHINGTON — Congress should not respond to the problems of Fannie Mae and Freddie Mac so strongly that those corporations would have less money to buy mortgages from credit unions, NAFCU told the chairman and ranking member of the Senate Banking Committee.
The trade association expressed concern that the financial difficulties of Fannie Mae and Freddie Mac might prompt lawmakers to increase the companies' minimum capital levels or impose caps on the growth of their portfolios.
Any changes in the capital levels "should be made cautiously and should be detached from political decisions," NAFCU Senior Vice President for Government Affairs B. Dan Berger wrote in a letter sent May 6 to Committee Chairman Christopher Dodd (D-Conn.) and ranking member Sen. Richard Shelby (R-Ala.).
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