BANKING & FINANCE - March 16, 1994
From Times Staff and Wire Reports
Fannie Mae to Reach Out to Potential Home Buyers: The nation’s largest home mortgage investor said it plans to help finance homes for 10 million families in “communities in need,” reaching out first to minorities and people who are now renting. The Federal National Mortgage Assn. said it expects to put $1 trillion into the effort by the close of the decade. Since its inception in 1938, Fannie Mae has provided about $1.35 trillion in home financing. The plan will also serve families with incomes at or below the median for their communities, new immigrants, residents of central cities and other underserved areas.
