#146 Summer 2006

GSE Not Doing Enough?

A Texas nonprofit says Fannie Mae doesn’t serve enough people who are low-income and of color in the Dallas-Fort Worth region. After four years of research, the Texas Low Income […]

A Texas nonprofit says Fannie Mae doesn’t serve enough people who are low-income and of color in the Dallas-Fort Worth region. After four years of research, the Texas Low Income Housing Information Service found that the government-sponsored enterprise (GSE) buys more single-family mortgage loans for white and upper-income families than other race and income groups. Fannie Mae’s share of loans purchased for African-American and Latino borrowers in the region was 33 percent in 2000. Many people of color who can’t get bank loans supported by Fannie Mae are forced to borrow from subprime lenders at higher interest rates. However, the GSE did serve as many low- and moderate-income people in 2000 as HUD requires, and the GSE doesn’t have to take borrowers’ race into account. (www.texashousing.org)

OTHER ARTICLES IN THIS ISSUE

  • The Politics of Poverty

    July 23, 2006

    Can John Edwards make fighting poverty a winning platform?

  • Planning Beyond the Project

    July 23, 2006

    Neighborhood planning allows CDCs to move beyond housing development and become community catalysts.

  • A Little Too Blunt?

    July 23, 2006

    Alphonso Jackson, HUD’s tough-talking chief, might have spoken a little too bluntly in Dallas in April. Speaking before a gathering of business leaders, Jackson said that he had denied a […]