LAS VEGAS — Since they contributed 6% to the federal government's income in 2013, that's one reason why it is highly unlikely that legislation to change Fannie Mae or Freddie Mac will move before 2017.
Tim Rood, chairman of the Washington-based consultancy The Collingwood Group, shared that prediction during a session Tuesday at the American Credit Union Mortgage Association's annual meeting, which is taking place through Wednesday at the Encore in Las Vegas.
Among the factors that are slowing down the legislative process are upcoming elections, a very crowded legislative calendar for the last few months of this year, and the vastly improved importance both Fannie and Freddie have begun to show, Rood said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
