The secondary markets and affordable housing

Authors :: Bush, Vanessa
Source :: Savings & Community Banker. Jan, 1994, Vol. 3 Issue 1, p32, 6 p.
Publication Year :: 1994
Abstract: The Federal Home Loan Mortgage Corp and the Federal National Mortgage Assn are faced with the Housing and Community Development Act of 1992 which requires them to make sure that 30% of loans purchased each year are made to low-income and average-income borrowers and 30% of loan purchases come from central cities. Both agencies view the 'twin-30' goals as a chance to develop new markets. Community lenders see these new goals will meet the needs of underserved housing markets.<br />Even though Fannie Mae and Freddie Mac Are Facing New 'Twin-30' Requirements, Portfolio Lenders Remain Skeptical of the Agencies' Ability to Meet the Particular Needs of Central City and Low- [...]