New Fannie Mae and Freddie Mac buyback policies, advanced at the behest of the Federal Housing Finance Agency, could lead to a secondary mortgage market with fewer products and less competition from credit unions and smaller lenders, according to a trade group representing CUs. In a comment letter to the FHFA this week, the National Association of Federal Credit Unions said any new buyback requirement by the two government-sponsored enterprises could hurt CUs and other small lenders disproportionately because they lack the volume of loans or the capital needed to support a buyback program. “This would be...