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Article: Fannie Mae, Freddie Mac Finance Bulk of Homes Bought by Hispanics in Miami.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 7, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. 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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By Douglas Hanks III, The Miami Herald Knight Ridder/Tribune Business News
Feb. 7--Miami is the only major U.S. city where mortgage lenders Fannie Mae and Freddie Mac finance a larger share of home purchases for Hispanics than private lenders do, according to a new study.
The finding by a mortgage industry group runs counter to criticism by private lenders that the government-sponsored lenders do not make enough loans to minorities.
In Miami, 66.1 percent of Fannie Mae and Freddie Mac's loans in 2000 went to Hispanics. Meanwhile, 65.8 percent of loans by private lenders went to Hispanics
But when it comes to loans made to Miami's ...