Berger, FHFA Acting Director Thompson meet to discuss housing priorities
FHFA
NAFCU President and CEO Dan Berger and members of NAFCU’s award-winning advocacy team yesterday met with FHFA Acting Director Sandra Thompson and Acting Chief of Staff Danielle Walton.
NAFCU Chief Economist and Vice President of Research Curt Long, Director of Regulatory Affairs Ann Kossachev, and Regulatory Affairs Counsel James Akin also attended the meeting.
During the meeting, the group discussed Thompson’s priorities as Acting Director of the FHFA as well as several of the association’s concerns and priorities, including recent amendments to the government-sponsored enterprises’ (GSEs) Preferred Stock Purchase Agreements (PSPAs) and the impact on credit unions’ ability to provide temporary GSE qualified mortgages through the GSE Patch.
In addition, Berger recently wrote to Thompson to address how the amendments to the PSPAs diminish new flexibilities brought on by the CFPB’s extension of the general qualified mortgage (QM) definition’s mandatory compliance date until October of 2022. In the letter, Berger stressed this mismatch, stating that NAFCU “remains concerned about adverse impacts on credit union lenders given the misalignment created by the PSPA amendments.”
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