Fannie and Freddie Support Federal Preemption in Predatory Lending Fight
February 21, 2003
The mortgage industry’s secondary market giants have thrown their weight behind a federal predatory lending standard that would override state and local consumer protection laws. In a speech at a recent policy conference sponsored by AARP, Fannie Mae Chairman and CEO Franklin Raines expressed support for the idea of a single national law on predatory lending. “Fannie supports national policies that both