Freddie Prods Lawmakers to Ease HUD Rule
Bergquist, Erick, American Banker
Upset with its regulator's final rule setting out affordable housing goals, Freddie Mac is lobbying Congress for relief.
Senate aides confirmed Friday that Freddie is trying to get Congress to alter the rules that determine how it achieves its affordable housing goals, which are set and overseen by the Department of Housing and Urban Affairs.
The goals are meant to spur both Freddie and Fannie Mae into serving low-income housing needs. For next year, 50% of the mortgages purchased by the government sponsored entities must be loans to low- and moderate-income borrowers.
While time is short -- Congress returns next week for a short, post-election session -- …
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Publication information: Article title: Freddie Prods Lawmakers to Ease HUD Rule. Contributors: Bergquist, Erick - Author. Magazine title: American Banker. Volume: 165. Issue: 231 Publication date: December 4, 2000. Page number: 21. © 2009 SourceMedia, Inc. COPYRIGHT 2000 Gale Group.
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