WASHINGTON, DC (January 8, 2014) -- National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger hailed Federal Housing Finance Agency Director Mel Watt’s announcement today that his agency is reconsidering guaranteed fee hikes announced last year by Fannie Mae and Freddie Mac. Watt also stated that any changes in fees will not be implemented for at least 120 days following review.
“NAFCU appreciates that FHFA and Director Watt are heeding our advice to reconsider the fee increases,” Berger said.
The FHFA last month announced plans to raise guarantee fees and the loan-level price adjustments this March. NAFCU wrote the agency strongly opposing these increases. Watt had announced earlier that he planned to review them once he was put in the director’s seat. He was sworn in Monday.
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The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.