Replies

I know firsthand, that when you explain to many people that the abandonment of sound lending practices at these institutions to cater to PC concerns of who can and cannot afford housing, you are accused of being a racist.

I went to the Fannie Mae Homepage and copied the following. Note in particular, the emphasis on giving money to people who have not shown that they know how to handle it. Far below, you can read their statement on Diversity.

If they had spent more time on sound fiscal lending practices and less time on diversity, we might not be in a position to get screwed by the government to bail these idiots out.

*******************************

Affordable Housing Solutions
In support of our mission, Fannie Mae offers several mortgage products and options that help our lender partners serve low- to moderate-income borrowers with affordable, sustainable homeownership solutions, including:

Reduced requirements for down payment and closing costs
A variety of mortgage terms and payment options
Low mortgage insurance coverage requirements
Choices for borrowers with less-than-perfect credit
Flexibility to provide loans to home buyers with no traditional credit history
Options that may provide extra flexibility for teachers, police officers, firefighters, health care workers, and retired and active members of the military, and for borrowers with a disability or a family member with a disability
Fannie Mae also works with several community-based nonprofit partners to offer special lending initiatives to meet their community’s needs.

****************************
And here is their “Misson Statement”:
About Fannie Mae - Introduction to Fannie Mae

Our Charter

Careers

Diversity & Inclusion

Fannie Mae provides stability, liquidity, and affordability to the nation’s housing finance system under all economic conditions. We are a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market.

Fannie Mae has a federal charter and operates in America’s secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Our job is to help those who house America.

Fannie Mae was created in 1938, under President Franklin D. Roosevelt, at a time when millions of families could not become homeowners, or risked losing their homes, for lack of a consistent supply of mortgage funds across America.

The government established Fannie Mae in order to expand the flow of mortgage funds in all communities, at all times, under all economic conditions, and to help lower the costs to buy a home.

In 1968, Fannie Mae was re-chartered by Congress as a shareholder-owned company, funded solely with private capital raised from investors on Wall Street and around the world.

Fannie Mae has a unique duty to the public it serves — and the private investors that fuel its service — to be a model company focused on service, reliability, and value.

Like all who participate in the housing market, Fannie Mae has a responsibility to help home buyers, homeowners, and communities through market challenges. We believe in the long term health of America’s housing market. The nation is growing and that growth will bring a renewed demand for housing and for responsible, sustainable mortgage lending. Fannie Mae will be there to help meet America’s changing housing needs.
***************************************************
Mission
Fannie Mae is committed to diversity and inclusion in the workforce, the workplace and the marketplace. We strive to create an environment where employees — our greatest resource — can fully engage and contribute their diverse ideas and perspectives towards innovative solutions that meet the company’s goals. In doing so, our employees drive the company’s competitive edge and serve the needs of our customers, partners and communities.