Our Position

Housing and Mortgage Finance

Letters to Congress

Title Recipient Date
U.S. Senate 12/15/23
Reps. Madeleine Dean and Kelly Armstrong 06/11/21
116th Congress 03/26/20
Congress 03/09/20

Letters to Regulators

Title Recipient Date
Department of Veterans Affairs 02/09/24
FDIC, Fed, OCC, CFPB 09/20/23
Federal Housing Finance Agency 09/18/23
CFPB, FDIC, Fed, FHFA, OCC 08/21/23
Federal Housing Finance Agency 08/14/23

Title Committee Presenter Date

Related News

ICBA Statement on Fannie Mae and Freddie Mac 2022 Earnings Release

March 02, 2023

Washington, D.C. (March 2, 2023) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the 2022 earnings releases from Fannie Mae and Freddie Mac.

“ICBA and the nation's community banks strongly urge the Federal Housing Finance Agency and the U.S. Treasury to expand efforts to resolve the government’s ownership of Fannie Mae and Freddie Mac and set them on a path to raise capital and eventually exit conservatorship.

"After nearly 15 years of conservatorship, Fannie Mae and Freddie Mac remain undercapitalized. The 2022 earnings reports from both government-sponsored enterprises reflect substantially decreased levels of annual net income following a turbulent year in the housing market. Without taking steps to allow Fannie and Freddie to escape government control and raise private capital, these companies will be trapped in conservatorship for the foreseeable future and will be unable to meet their regulatory capital requirements for at least another decade. This is an outcome that will ultimately prove harmful for the mortgage industry, for community banks, and for taxpayers.

"We therefore urge FHFA Director Sandra Thompson and Treasury Secretary Janet Yellen to take immediate action to resolve Treasury’s ownership based on the Preferred Stock Purchase Agreements with the goal of allowing the GSEs to access the capital markets and to eventually exit conservatorship.

"The long-term viability and liquidity of the housing market — which benefits Americans by enabling access to affordable credit for home financing — depends on the GSEs operating in a safe and sound condition. Raising adequate levels of capital and acting to end the perpetual conservatorship are critical steps toward protecting the taxpayer and strengthening the stability of the U.S. housing finance system.

"ICBA and community bankers nationwide look forward to continuing to work with policymakers as the debate over housing finance reform continues."

About ICBA

The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.

With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5.8 trillion in assets, over $4.8 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

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