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Article: Fannie Mae's Raines Commits Corporation to Reaching HUD's Increased Affordable Housing Goal.
- Article from:
- PR Newswire
- Article date:
- July 29, 1999
CopyrightCOPYRIGHT 1999 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, 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 ...