GSE Support for PL Efforts, Smokescreen for Exemption
May 13, 2002
In a surprise move, Fannie Mae announced it would support an anti-predatory lending bill, but stopped short of endorsing legislation introduced early this month by Sen. Paul Sarbanes, D-MD. In a statement released after Sarbanes unveiled his bill, “Predatory Lending Consumer Protection Act of 2002,” Fannie Mae said it backs states’ efforts to rein in abusive mortgage lenders.