CEO Says Fannie Mae to Serve More Borrowers

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00000089-ceo-says-fannie-mae-to-serve-more-borrowe/

WASHINGTON – U.S. mortgage finance giant Fannie Mae will make efforts to reach borrowers with blemished credit or ones unfamiliar with the mortgage borrowing process, the company’s chief executive said on Monday.

“Fannie Mae is moving ahead with a concerted effort to serve the sub-prime market,” Fannie Mae’s Franklin Raines said in prepared comments to America’s Community Bankers.

Fannie Mae and its rival mortgage finance company Freddie Mac are under pressure from the Bush administration to increase their financing of home loans to low-income and minority home buyers.

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CEO Says Fannie Mae to Serve More Borrowers

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