The Hill News

As small lenders, credit unions must have equal and uninterrupted access to the secondary mortgage market to ensure that 92 million credit union members across the country are on an even playing field when they purchase a home. 

With housing finance reform proposals emerging from both sides of the aisle in both chambers of Congress, credit unions are watching closely to ensure that any future secondary market will meet the needs of lenders of all size.  

Tens of billions of taxpayer dollars have been pumped into secondary mortgage market giants Fannie Mae and Freddie Mac since the collapse of the housing market and their subsequent conservatorship. This level of government intervention, unacceptable to many lawmakers of all stripes, has given life to the idea that Congress can simply board up the front doors at Fannie and Freddie and shut these entities down without serious consequence.

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