Fannie Mae-No Politics (FNMA)

[along4zride]

FNF POOR LENDING TO MINORITIES IS UNACCEPTABLE

THE FACE OF THE NATION HAS CHANGED AND WE WILL FIGHT TO DISMATLE THE

GSE'S AND START A NEW COMPANY THAT IS FAIR TO ALL.THIS REPORT OF

DISCRIMINATION WILL SEND THE PPS PLUMMETING.

Minorities have been disappearing from the ranks of homebuyers who seek and receive conventional loans backed by Fannie Mae and Freddie Mac.By 2025, minorities will make up almost half of the population between the ages of 24 and 34, when most first-time buyers enter the market.
Advocacy groups are urging the two government-owned mortgage-finance companies to change their underwriting and pricing practices and create new loan products to help bring blacks, Hispanics and other minorities back into the housing market.
There is no doubt in anybody’s mind that there has been a significant drop-off in conventional lending to people of color, and that it’s an issue we can and should address.
During the housing bubble, even creditworthy minorities were disproportionately steered into subprime loans by unscrupulous lenders.

Prime African Americans and Hispanics should be getting Fannie and Freddie loans just like prime white borrowers. At least 40 percent of black applicants seeking loans for home purchases backed by Fannie Mae and Freddie Mac were denied in 2012, compared with 14 percent of whites