LAS VEGAS — The continued uncertainty surrounding the reform of the secondary mortgage market, combined with what that might mean for credit unions and what they should do, led the way at the American Credit Union Mortgage Association's 15th annual fall conference.
LAS VEGAS — Brooklyn University Law Professor David Reiss said he expects Fannie and Freddie to be reformed but not eliminated.
We agree with David Reiss that credit unions could benefit from increased competition resulting from a privatized mortgage market ("Professor Says CUs Should Back GSEs' Privatization," March 2, page 3) provided, as he states, that "they maintain their access on par with that of larger financial institutions." Otherwise, credit unions...
A professor of law at Brooklyn Law School argued that credit unions should back the privatization of Fannie Mae and Freddie Mac, provided they can also ensure they get the same access to a privatized secondary mortgage market that banks would get.
CUs should back the eventual privatization of the Government Sponsored Entities Fannie Mae and Freddie Mac, according to law professor David Reiss in a Filene Research Institute paper.