Fannie Mae and Freddie Mac Signal Plans to Step up Subprime Activity to Capture ‘Emerging Markets’
October 28, 2004
The CEOs of Fannie Mae and Freddie Mac pledged this week to work with mortgage bankers to meet the challenges of a shrinking mortgage market over the next several years by helping them push into so-called “emerging markets.” Significantly, that push is expected to take the two government-sponsored enterprises much closer to the subprime mortgage business as the mortgage industry looks to embrace what is projected to be the fastest growing sector of future borrowers…