New Duty to Serve plan aims to expand affordability and address America's most persistent housing problems
MCLEAN, VA--(Marketwired - Dec 18, 2017) - Freddie Mac (
Freddie Mac's Duty to Serve plan includes increased loan purchases in these three underserved markets as well as new products, ground-breaking research and expanded consumer education. The company is working with the mortgage industry, community nonprofits, all levels of government and other dedicated organizations to make a positive difference for very low-, low- and moderate-income households.
"For more than 45 years, our innovations have brought liquidity, stability and affordability to the mortgage markets, and Duty to Serve is an important continuation of those efforts," said David D. Leopold, vice president of targeted affordable sales & investments at Freddie Mac Multifamily. "Freddie Mac is uniquely suited to tackle some of America's most persistent housing problems, and we look forward to deepening this work."
"We're developing responsible solutions to help make home possible for more American families," said Danny Gardner, Freddie Mac's vice president of Single-Family affordable lending and access to credit. "Addressing the affordability crisis today will benefit our country for decades to come."
Multifamily plan highlights include:
Single-Family highlights include:
News facts:
More information, including highlights of Freddie Mac's Duty to Serve plan and the full plan, are available on Freddie Mac and FHFA's Duty to Serve web pages.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog.
Contact Information:
MEDIA CONTACT:
Christopher Spina
703-388-7031
Christopher_Spina@FreddieMac.com