Article: Fannie Mae's Raines Commits Corporation to Reaching HUD's Increased Affordable Housing Goal.

WASHINGTON, July 29 /PRNewswire/ -- Fannie Mae (NYSE: FNM), the nation's largest affordable housing company, will stretch to meet new housing goals proposed today by Housing and Urban Development (HUD) Secretary, Andrew Cuomo, according to the firm's chairman and CEO, Franklin D. Raines.

"It is not going to be easy. But we are going to work very hard to meet the Secretary's new goals," said Raines.

The company has met or exceeded every existing statutory housing goal set by the federal government since HUD made such targets final in 1995.

Secretary Cuomo announced today that the percentage of business that Fannie Mae must commit to low- and ...

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