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Motivating Your Team--The Reward is Not the Same for All Salespeople

National Mortgage Professional
Oct 19, 2001

Fannie Mae Exceeds All Lending Goals for 2000MortgagePress.comFannie Mae, U.S. Department of Housing and Urban Development, goals Fannie Mae announced that it has exceeded all of its statutory and corporate lending goals in 2000. Regulatory guidelines call for Fannie Mae to follow percentage-of-business housing goals, overseen by the U.S. Department of Housing and Urban Development. Preliminary information for Fannie Mae's business activity in 2000 shows that: ++low- and moderate-income households (those with incomes less than or equal to 100 percent of an area's median income) represented more than 49 percent of the units the company financed, exceeding the HUD-regulated goal of 42 percent for the year; ++underserved areas accounted for approximately 31 percent of the units that Fannie Mae financed, the company's HUD-regulated goal was 24 percent for the year; and ++special affordable housing (low- and very low-income households living in both single- and multi-family residences) accounted for 22 percent of total units financed in 2000, exceeding the goal of 14 percent. Fannie Mae delivered $3.8 billion in multi-family special affordable financing against a minimum goal of $1.29 billion. In addressing HUD's percentage-of-business goals for 2000, the company reported that of low- and moderate-income units financed by Fannie Mae last year, 72 percent went to those with incomes at or below 80 percent of their area's median income, 36 percent went to those with incomes between 60 and 80 percent of the median, and another 36 percent went to those with incomes at or below 60 percent of the median. HUD announced in October of 2000 that Fannie Mae's percentage-of-business housing goals for 2001 would be as follows: of total units financed, 50 percent of the units would be for low- and moderate-income households; 31 percent in underserved areas; and 20 percent for special affordable housing, with a multi-family minimum goal of $2.85 billion. For more information, visit www.fanniemae.com.
Published
Oct 19, 2001
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