LAS VEGAS — While the first day of the American Credit Union Mortgage Association's 16th annual conference featured optimism about credit union housing finance amid an uncertain economy, the second day was overshadowed by concerns about regulatory changes and secondary-market uncertainty.
The Consumer Financial Protection Bureau was the source of most of the regulatory anxiety, with many housing finance executives expressing real concern about the agency's regulatory changes.
"It doesn't seem like they really understand what credit unions do and why," said one executive from Texas who declined to be named, citing his credit union's media policy. "But these regulations are going add time and expense to every mortgage we write."
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