Lawmakers Seek Housing Finance Reform Details

House Financial Services Committee Chairwoman Maxine Waters (D-CA) and Senate Banking Committee Ranking Member Sherrod Brown (D-OH) are asking the administration for its housing finance reform plan following comments from Federal Housing Finance Agency (FHFA) Acting Director Joseph Otting.

Last week, Politico reported on Otting's comments in to a January 17 staff meeting that a housing finance reform plan from the administration and Treasury Department could come within the next month. After that, Otting said he expects significant progress to be made within "six to 18 months."

Waters and Brown, in a letter to Otting, asked for details on the plan by the end of this week.

CUNA and the state leagues continue to communicate to the Trump administration and Capitol Hill lawmakers the need to ensure that any housing finance reform package preserves credit unions’ access to a viable and competitive secondary mortgage.