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GSEs Launch Effort to Ease Homeownership, End Racial Gap

Fannie Mae and Freddie Mac have unveiled plans for making it easier to buy a home and closing the racial homeownership gap. So reports USA Today.

Freddie Mac 150x150The mortgage finance giants’ overhaul includes down payment assistance, revamped underwriting guidelines, lower mortgage insurance premiums and a credit reporting system that factors in rent payment history.

Naa Awaa Tagoe of the Federal Housing Finance Agency, which oversees the two government-sponsored enterprises, told USA Today, “This is Fannie Mae and Freddie Mac saying, ‘Yes, there is an issue with equity in housing finance, and these are the steps we need to take to address them.’”

Read the full article from USA Today.

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