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Article: Fed study ignores big role Fannie Mae plays in extending credit to the underserved. (Federal Reserve Board, Federal National Mortgage Association)
- Article from:
- American Banker
- Article date:
- December 13, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. 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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A Dec. 7 article in American Banker described a Federal Reserve Board study about risk assumption in the mortgage market that was originally published in the November issue of the Federal Reserve Bulletin. In the following article, Ann Logan, a Fannie Mae executive vice president, responds to the Fed study.
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The recent Federal Reserve Board study, "Credit Risk and the Provision of Mortgages to Lower-Income and Minority Homebuyers," is misleading and inaccurate.
Fannie Mae is the largest single investor in home loans, and we assume all or a large part of the risk on the vast majority of all mortgages we finance. Fannie Mae holds in its portfolio or ...