Released: September 24, 2008
Affordable-housing goals scaled back
Source: Zachary A. Goldfarb, Washington Post (Free Registration)
The federal regulator overseeing Fannie Mae and Freddie Mac said yesterday that the firms would play a smaller role this year in supporting affordable housing across the country than they have in the past.
The companies missed government-mandated affordable-housing goals in 2007, and “the miss will be larger in 2008,” James B. Lockhart III, director of the Federal Housing Finance Agency, told the Senate Banking Committee.
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