Watt Plans to Maintain Level of Fannie-Freddie Lending to Poor
Money News - August 29, 2014 - September 2, 2014
Fannie Mae and Freddie Mac would maintain current levels of home-mortgage purchases meant to spur lending to lower-income borrowers though 2017 under a proposal released by the Federal Housing Finance Agency.
FHFA, the government overseer for the U.S.-owned mortgage giants, said Friday it is seeking public feedback on a plan that would keep lending to poorer families at about 23 percent of the companies’ book of business for the next three years. The agency proposed changes in the way the percentage is calculated.
Read full article: Watt Plans to Maintain Level of Fannie-Freddie Lending to Poor