The proposal also includes a new area-based subgoal designed to reduce the likelihood that GSE purchases in low-income areas go disproportionately to higher-income borrowers.
Wards of the Uncle Sam since the fall of 2008, these days the two government-sponsored enterprises are considered instrumentalities of the executive branch with little prospect of their conservatorships ending.
Fannie CEO Frater: “If you think about what we do and how we actually help people, we’re actually more set up to be ESG companies than may other companies that you might think of as ESG companies.”
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