Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

"Yet, during conservatorship and with limited capital, the loans the GSEs finance have dramatically
trended to higher credit scores and increased mortgage costs for lower wealth borrowers despite their
clear important public interest mission of affordability in the housing market.44 During conservatorship,
the GSEs have focused on reducing risk, resulting in overly tight credit requirements for borrowers. The
median credit score of the GSEs’ loan purchases have been extraordinarily high, 758 in February 2020
prior to the COVID crisis and 772 at the end of 2020.45 Overly stringent lender credit overlays exacerbate
the problem. The Urban Institute has found that lenders would have issued 6.3 million additional
mortgages between 2009 and 2015 if lending standards had been at historically safe levels.46"