Last week Credit Union National Association Chief Advocacy Officer Ryan Donovan released the following statement after Senate Banking Committee Chairman Mike Crapo released an outline for housing finance reform legislation.
“America’s credit unions play an increasingly vital role in the housing finance marketplace and depend upon the secondary market to provide liquidity for mortgage credit. We applaud Chairman Crapo for his initiative in proposing a legislative solution to one of the most important, unresolved issues remaining from the financial crisis — reforming the secondary mortgage market. Credit unions look forward to engaging with both the chairman and the Senate Banking Committee as this outline continues to develop into legislation, and CUNA is committed to working to ensure that the secondary market of the future includes equal and fair access for credit unions.”
CUNA has consistently supported the creation of an efficient, effective, and fair secondary market with equal access for lenders of all sizes.