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Article: FANNIE MAE ANNOUNCES NATIONWIDE INITIATIVE TO FINANCE HOME MORTGAGES FOR MEMBERS OF NATIVE AMERICAN TRIBES, NAMES FIRST NATIVE AMERICAN SELLER/SERVICER; EXPANDED FINANCING WILL INCREASE HOMEOWNERSHIP AMONG NATIVE AMERICANS
- Article from:
- PR Newswire
- Article date:
- April 18, 1995
CopyrightCOPYRIGHT 1995 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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WASHINGTON, April 18 /PRNewswire/ -- Thousands more Native Americans will be able to purchase homes, with lower upfront costs, through a new Native American Housing Initiative announced today by Fannie Mae (NYSE: FNM), the nation's largest source of home mortgage funds.
The initiative provides a framework for the company's future efforts to meet the needs of underserved Native American populations nationwide. Products under discussion in the initiative include a low down payment mortgage in Oklahoma for the Cherokee, Chickasaw, Choctaw, and Absentee Shawnee nations, and a second mortgage product in Washington State.
In conjunction with this initiative, Fannie ...