Items Tagged with 'Underserved borrowers'

ARTICLES

  • FHFA makes it official: Fannie, Freddie required to open credit box to "underserved"

    FHFA unveils final "Duty to Serve" rule
    Eight years after the passage Housing and Economic Recovery Act of 2008 mandated that Fannie Mae and Freddie Mac increase lending to three specific “underserved” markets, the Federal Housing Finance Agency announced Tuesday that the government-sponsored enterprises must work to open the credit box for certain very low-, low-, and moderate-income families.
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  • M&T Bank launches mortgage assistance program for minority neighborhoods

    Available in New Jersey, Connecticut, New York, Pennsylvania and Delaware
    Aiming to help underserved borrowers buy a home, M&T Bank announced a new mortgage subsidiary program for certain minority neighborhoods in New Jersey, Connecticut, New York, Pennsylvania and Delaware. According to M&T Bank, the program will allow qualifying homebuyers who are purchasing or refinancing properties in targeted neighborhoods to receive mortgage assistance that can exceed $10,000.
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  • Wells Fargo pledges $220 billion for minority, low-income mortgages

    Commitment part of 5-year 'corporate social responsibility' plan
    Aiming to use its place as one of the nation’s largest banks to address "global social, economic, and environmental challenges," Wells Fargo announced an ambitious five-year plan that includes massive investments in diversity and social inclusion efforts, environmental causes, and billions of dollars for mortgages in "underserved" communities.
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