Fannie and Freddie's Dual Obligations

For years our nation has tried to encourage home ownership. The tax benefits are wonderful plus this encourages people to have pride of ownership and take care of their neighborhoods and properties. I have been in this business long enough to remember when getting people into Community Home Buying programs was a good thing. We all wanted the teachers, fireman and gardners to have a place that they could call home. And before affordable housing programs became the rage (which is almost completely subsidized) the Community Home and mandated FNMA and FDMC buying programs that allowed people in homes with zero down and shaky incomes were strongly encouraged by Congress and Clinton. I tried to find a non-partisan take on this issue. This article is from June 2003Fannie and Freddie Mac Meeting Dual Obligations