Fannie, Freddie told to provide more support for poor borrowers

poor buyersBy Mike Blake | Reuters

The regulator for U.S. housing finance giants Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) told the two firms on Wednesday to provide more support to low-income Americans taking out mortgages and refinancing home loans.

The Federal Housing Finance Agency released goals for the two government-controlled firms for 2015-2017 that would advance agency chief Mel Watt’s aim to widen access to housing credit.

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