CUNA supports FHFA efforts to identify fintech challenges in housing finance

CUNA strongly supports the goal of facilitating responsible innovation and FHFA’s efforts to identify barriers and challenges in implementing fintech in the housing finance ecosystem. CUNA sent comments in response to an FHFA request for information on fintech in housing finance.

“Credit unions support efforts related to new technologies that allow for more consumer-friendly experiences, and enhanced risk management processes,” the letter reads.

CUNA’s suggestions include recommending FHFA:

• Require Fannie Mae and Freddie Mac to require electronic title data, which would reduce costs and make the process quicker and more efficient for all financial institutions, particularly smaller financial institutions.

 

continue reading »