[Congressional Record (Bound Edition), Volume 162 (2016), Part 12]
[House]
[Page 15894]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1745
           HOUSING DISCRIMINATION LAWSUIT AGAINST FANNIE MAE

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute.)
  Ms. KAPTUR. Mr. Speaker, I rise tonight in support of the housing 
discrimination lawsuit filed against the Federal National Mortgage 
Association yesterday, Monday, by the National Fair Housing Alliance 
and 20 local fair housing organizations across our Nation. The lawsuit 
properly alleges Fannie Mae purposely failed to maintain its foreclosed 
properties in African American and Latino neighborhoods to the same 
condition as it maintains properties in Caucasian neighborhoods. Over 
20 cities were involved in this filing, and investigations revealed 
severe maintenance issues in communities of color, in contrast to 
Freddie Mac, which maintains its properties at a much higher standard 
in all neighborhoods.
  With a net income of over $45 billion over the last 2 years, Fannie 
Mae remains one of the largest issuers of single-family, mortgage-
related securities. This year, Fannie Mae reported holding over 40 
million foreclosed properties, many of which they do not maintain.
  So why hasn't Fannie Mae maintained its foreclosed properties in 
African American and Latino communities? They certainly have enough 
profits to do so. May the judges rule in favor of Fannie Mae meeting 
its public responsibilities to the communities of this country as soon 
as possible.

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