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Home » Store » Taxable » Freddie Mac Promises New Effort Will Help Lenders Expand Customer Base, Comply with CRA Mandates

Freddie Mac Promises New Effort Will Help Lenders Expand Customer Base, Comply with CRA Mandates

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Under political pressure to bring more “underserved” customers into the mortgage market and meet increasingly tough affordable housing goals, Freddie Mac is starting a new program called “Home Possible” for borrowers with subpar credit records. But a top official at the government-sponsored enterprise said this week that he believes lenders will participate for purely business reasons, such as the need to expand their customer base and meet their Community Reinvestment Act obligations. …
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