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Article: Fannie Mae's Targeted Community Reinvestment Act Loan Volume Passes $10 Billion Mark; Expanded Purchasing Efforts Help Lenders Meet Both Market Needs and CRA Goals.
- Article from:
- Business Wire
- Article date:
- May 7, 2001
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Business Editors
ORLANDO, Fla.--(BUSINESS WIRE)--May 7, 2001
Fannie Mae (FNM/NYSE), the nation's largest source of financing for home mortgages, today announced that its acquisition volume of specially-targeted Community Reinvestment Act (CRA) loans passed the $10 billion threshhold in the second quarter of 2001, reaching that milestone more than one and a half years ahead of schedule.
In the spring of 1999, Fannie Mae pledged to purchase at least $10 billion in CRA loans by the end of the year 2002.
The progress of Fannie Mae's CRA transactions volume was announced today by Jamie Gorelick, Vice Chairman of Fannie Mae, at the Mortgage ...