Strengthening our members' ability to be the best providers of financial services to the communities they serve.


FHFA Statement on HOA Super-Priority Lien Foreclosures

​Title 12 United States Code Section 4617(j)(3) states that, while the Federal Housing Finance Agency acts as Conservator, “[no] property of the Agency shall be subject to levy, attachment, garnishment, foreclosure, or sale without the consent of the Agency.” This law precludes involuntary extinguishment of Fannie Mae or Freddie Mac liens while they are operating in conservatorships and preempts any state law that purports to allow holders of homeownership association (HOA) liens to extinguish a Fannie Mae or Freddie Mac lien, security interest, or other property interest.

As noted in our December 22, 2014 statement on certain super-priority liens, FHFA has an obligation to protect Fannie Mae's and Freddie Mac’s rights, and will aggressively do so by bringing or supporting actions to contest HOA foreclosures that purport to extinguish Enterprise property interests in a manner that contravenes federal law. Consequently, FHFA confirms that it has not consented, and will not consent in the future, to the foreclosure or other extinguishment of any Fannie Mae or Freddie Mac lien or other property interest in connection with HOA foreclosures of super-priority liens.

12/22/2014: Statement of the Federal Housing Finance Agency on Certain Super-Priority Liens


The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at, on Twitter @FHFA, YouTube and LinkedIn.​​

FHFA Provides Statement During Hearing

Alfred Pollard, Federal Housing Finance Agency General Counsel, testified during Nevada legislative hearing.

SB 306 seeks to outline a process that will provide timely notification to all interested parties when there are unpaid assessments and possible foreclosures.

Mr. Pollard’s testimony during the SB 306 Judiciary Committee hearing indicates that the proposed legislation provides some improvement to the current statute and will help relieve some of their concerns, but went on to express his reservations. Read the full testimony here.



Kate Marshall & Elliott Parker Issue Financial Literacy Opinion Statement to Nevada Appeal

"No state suffered as much from the Great Recession as Nevada. No state saw a bigger drop in median incomes or a bigger share of its residents descend into poverty. No state saw higher foreclosure rates or a greater proportion of its mortgages go “underwater.” At the depth of the recession, no state suffered more bankruptcies per capita. While some of this may have been due to factors beyond our control, there is no denying that poor financial decisions contributed to the crisis we experienced."

Mentioned is SB 220, the Finanacial Literacy bill supported by Nevada Bankers Assocation.

Read the full article here

2 GOP leaders to propose hybrid tax plan

"More Nevada companies would be subject to a payroll tax, and an annual business license fee would increase for most industries in a “hybrid tax plan” two GOP leaders will introduce Monday in the Legislature, according to a Republican familiar with a draft."

Read the Las Vegas Review Journal Story

Majority Leader McConnell and Senators Heller and Manchin sent the below letter to CFPB Director Cordray outlining their concerns about the CFPB’s definition of ‘rural’ Qualified Mortgages.

Dear Director Cordray:

We are writing in regards to the Consumer Financial Protection Bureau’s (CFPB’s) definition of rural as it pertains to Qualified Mortgages under the Ability-to-Repay and other mortgage rules. As Members of Congress who represent rural areas, we have heard from our constituents about their concerns regarding the definition of rural and the process the CFPB has used to determine it.

Why Leave Financial Literacy to Luck?

People are accustomed to seeing a lot of green on St. Patrick’s Day. This year, Nevada legislators will be talking about a different kind of green; money. SB 220 will be heard on the Senate Floor at 3:30 on Tuesday March 17, 2015.

SB 220 seeks to expand financial literacy training in Nevada classrooms. Drafted by two youth legislators, Evan Gong and Kyle Walker, the bill has gained support from multiple Senators, agencies and associations. If passed financial literacy would be moved from social studies to math and require age appropriate curriculum be taught in grades 6-12. Their own experience and that of their fellow students with the current provided teaching inspired Gong and Walker. Their research included a report out of UNR, which guided the requests incorporated into the bill. It addresses modern-day financial concerns such understanding interest rates and loans, including student loans as well as managing credit and preventing identity theft.