Calling it a net plus for the consumers and the housing market,Affinity FCU President/CEO John Fenton on Thursday urged lawmakersto ensure that any changes in the housing finance system don'tjeopardize the existence of the 30-year mortgage.

“It's consumer friendly, straightforward and easy tounderstand,'' Fenton said during testimony on housing finance reform before the Senate BankingCommittee. “It's necessary for the health of the housing marketthat it remain a viable product.''

Fenton, who testified on behalf of NAFCU, said the way to ensurethat that kind of mortgage remains available is to revamp thehousing finance system in a way that keeps a strong governmentpresence in the market.

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

  • 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.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.