Fannie Unveils $15B AH Plan for Oregon

Fannie Mae has announced a $15 billion affordable housing investment strategy that will provide homeownership and rental opportunities to over 150,000 low- to moderate-income and minority families in Oregon over the next five years.Investment will also target community development and neighborhood revitalization in cooperation with local lenders, city and state housing agencies, and nonprofit organizations, the government-sponsored enterprise said. The initiative, which is part of Fannie Mae's "American Dream Commitment," is the second such plan applied in the state. Fannie's previous five-year investment strategy, a $10 billion program begun in 1998, provided affordable housing to 97,000 Oregonians, the GSE said. Fannie Mae can be found online at http://www.fanniemae.com.