[PhillyFlyers]

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

http://www.nytimes.com/1999/09/30/bu...e-lending.html


And here....

http://newsbusters.org/blogs/p-j-gla...nie-mae-crises

[PhillyFlyers]

Dante with a ridiculous post defending Clinton and the liberals in 3....2.....1......

[PhillyFlyers]

Where are the fukkin liberals at?

Why so fukkin quiet BITCH?!

[pulledclear]

Hey fck face, lay off the caffeine.

[PhillyFlyers]

Hey fck face, lay off the caffeine.

I like caffeine, pussy.

[brooks85]

This was news more than 5 years ago, but yes clinton and phil gramm. And, every liberal idiot who thought it was a right to own a home.