Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. -- RODEO RAMBLINGS

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Date Posted: 10:27:16 03/20/09 Fri
Author: Hap
Subject: Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In reply to: Hap 's message, "Note the date this was written, 1999 and note who was responsible for it. Now they blame "the last 8 years" for everything." on 10:22:21 03/20/09 Fri

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''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' (NT) -- Hap, 10:29:52 03/20/09 Fri

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