Joe Pigg

November 08, 2023

On November 7, 2023, the Federal Housing Finance Agency released the FHLBank System at 100 Report: Focusing on the Future report that is the culmination of the agency’s more than yearlong comprehensive review of the Federal Home Loan Bank System.

July 26, 2023

While the goals of these programs are laudatory, the financing arrangements employed by many PACE programs, as they are currently authorized by state and local governments, present significant consumer protection concerns for borrowers as well as safety and soundness concerns for both primary and secondary mortgage market participants.

October 27, 2022

Comments on the Federal Housing Finance Agency's comprehensive review of the Federal Home Loan Banks.

October 17, 2022

In a rapidly changing economic environment where rising interest rates and an acute shortage of affordable housing threatens to become chronic, a benchmark that is more reflective of changing conditions is both welcome and warranted.

May 18, 2022

ABA comment letter writing guide on the FDIC's draft principles on climate-related financial risk management.

April 25, 2022

ABA supports this effort to strengthen the safety and soundness of the housing finance system and in particular, to address concerns related to the capital and liquidity requirements for non-depository seller/servicers.

February 09, 2022

In light of efforts by investors and by policy-makers at Federal, state, and local levels to respond to climate change, ABA and its members understand that climate-related financial risk - and broader environmental policy goals - have implications for banks, their counterparties and the communities that banks serve.

September 21, 2021

On August 25th, the Federal Housing Finance Agency (FHFA) published a proposal and request for comments on the housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2022 through 2024. The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (the Safety and Soundness Act) requires FHFA to establish annual housing goals for mortgages purchased by the Enterprises.

April 19, 2021

Like many organizations and industries, the American Bankers Association has increased our focus on climate related risks. ABA recently joined the U.S. Climate Finance Working Group, a coalition of financial trade associations, in developing a set of principles to guide discussions and engagement on how the financial system and our regulators should address climate change issues.

February 26, 2021

We note at the outset that the ANPR poses questions that suggest a potential reduction in the housing goals credit awarded to the GSEs - and perhaps the eligibility for purchase of some categories of loans altogether, based upon a number of rationales. ABA continues to believe that the overall footprint of the market served by the GSEs should be reduced in an orderly, well considered fashion to avoid market disruptions.

February 22, 2021

Environmental, Social and Governance (ESG - also often referred to as 'sustainability') issues are an increasing area of focus for banks of all sizes, driven by attention from regulators, investors, customers and employees.

February 22, 2021

The National Flood Insurance Program (NFIP) has been reauthorized through September 30, 2021. As of February 2021, the prospects for long term NFIP reauthorization are unclear. The House Financial Services Committee, led by Rep. Maxine Waters, unanimously passed a reform and five year reauthorization in mid 2019, but the Senate did not take up the reform legislation.

January 07, 2021

ABA welcomes the FHFA's effort to bring greater transparency and objectivity to the approval process for new products offered by the GSEs. Ensuring that the GSEs' activities remain focused on the secondary market and do not stray into competition with primary market participants is a key responsibility of the FHFA.

November 05, 2020

ABA supports the Treasury/CDFI's efforts to revise and update the CDFI certification to ensure that it is meaningful and that participants adhere to the mission and goals of the CDFI program. We urge the Treasury to evaluate bank and credit union applicants for CDFI certification on the same terms, and not rely upon National Credit Union Administration designations.

August 31, 2020

ABA provides a critique of the FHFA's re-proposed capital rules for Fannie Mae and Freddie Mac through a lens of how the proposal would impact loan originator's ability to sell loans to the GSEs in a reformed, post conservatorship environment.

June 30, 2020

On June 30, 2020, the Federal Housing Finance Agency (FHFA) published in the Federal Register a proposed rulemaking (NPRM) soliciting public comments on a re-proposal of rules establishing a new regulatory capital structure for the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

June 23, 2020

ABA reiterates positions taken in a 2015 comment letter that membership eligibility for the FHLBs is set by Congress and that FHFA's proper role is to ensure the safe, sound and mission compliant use of the System by eligible members.

March 16, 2020

ABA letter to FHFA on the RFI re: Property Assessed Clean Energy (PACE) Program

March 09, 2020

ABA Comment to OCC on the proposal on new round of EGRPRA-recommended rule changes.

September 30, 2019

ABA's summary and guidance on HUD's proposed update to its disparate impact rule.