In anticipation of upcoming hearing on the government owned housing finance corporations Fannie Mae and Freddie Mac, McClatchy’s Kevin Hall reported on February 6th:

Beginning in 1992, Fannie and Freddie were directed to foster more lending to minorities by purchasing and securitizing these loans — when the loans met guidelines.

At the high-water mark, Fannie and Freddie did securitize 52 percent of the loans made to low and moderate income borrowers. But during the boom from 2001 to 2007, bank lending standards weakened dramatically and in 2006, the height of the housing boom, Fannie and Freddie purchased just 24 percent of the

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