Does Profit Motive Compromise Fannie’s and Freddie’s Commitment to Affordable Housing?
April 23, 2004
A top Treasury official caused a stir this week by claiming that Fannie Mae and Freddie Mac might be motivated to keep mortgage rates high in order to generate earnings on their hefty investment portfolios. In a speech at the Mortgage Bankers Association’s National Secondary Market Conference, Wayne Abernathy, assistant secretary for financial institutions at the Department of Treasury, said the two government-sponsored enterprises