WASHINGTON—NAFCU and CUNA are both attending roundtables at the Federal Housing Finance Agency on the agency’s duty-to-serve proposal. Those roundtables will conclude today after beginning on Monday.
The duty-to-serve proposal would require government-sponsored enterprises Fannie Mae and Freddie Mac to create plans for future service to underserved markets. NAFCU has pushed the agency to revise its proposal to allow credit unions with experience making chattel loans on manufactured housing to be eligible for duty-to-serve credits.
Executive Vice President of Government Affairs and General Counsel Carrie Hunt and Regulatory Affairs Counsel Kavitha Subramanian are attending for NAFCU.
CUNA’s Andy Price, senior director of advocacy and counsel, said the trade association is “pleased to be invited to the roundtable as the FHFA is putting a lot of work and effort into rewriting these rules. We will have Jerry Reed, CEO of Member First Mortgage participating with CUNA to provide input.”