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Article: Freddie Mac Helped a Record Number of Families Obtain Low Cost Mortgages and Affordable Housing in 2003.
- Article from:
- PR Newswire
- Article date:
- February 16, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In 2003, Freddie Mac financed homes for more than 5.5 million families, or approximately one family every six seconds. Freddie Mac also exceeded the affordable housing goals established by the Department of Housing and Urban Development (HUD), and helped provide quality affordable housing to millions of low-income and minority families. Freddie Mac has exceeded each of the housing goals every year since permanent goals went into effect in 1996.
Based on preliminary results, approximately 51.1 percent of the corporation's purchases served low- and moderate-income families, exceeding HUD's 50 percent goal; 32.3 percent financed homes in areas defined by HUD as ...