ADVISORY/PMI Mortgage Insurance Co. and Fannie Mae to announce $50 Billion Alliance: 'Gateway to Homeownership in a New Century'.News Editors/Assignment Desks ADVISORY...for Wednesday (Nov. 5) --(BUSINESS WIRE) Collaboration will Expand Affordable Housing Opportunities in United States What: A press conference: PMI See Private Mortgage Insurance. Mortgage Insurance Co. and Fannie Mae (NYSE NYSE See: New York Stock Exchange :FNM FNM Faith No More (band) FNM Fábrica Nacional de Motores (Brazilian truck/motor company)) FNM Free National Movement (Bahamas) FNM Foot and Mouth ), the nation's largest source of financing for home mortgages, will join two affordable housing initiatives in a landmark $50 billion community lending collaboration to extend through the end of 2006. The collaboration, Gateway to Homeownership in a New Century, is the first of its kind between a mortgage insurance company and a secondary mortgage market company to create more affordable housing opportunities for underserved communities and low to-moderate-income families nationwide. The Unity Council, the host of the event, will receive a $50,000 contribution from Fannie Mae. The contribution will be supplemented into PMI's Gateway Cities Initiative fund on behalf of the organization. The Unity Council has drawn upon this fund and will draw upon this fund again to construct new homes or to purchase and rehabilitate existing housing stock. As each project is completed the fund is reimbursed from the proceeds of sale providing an opportunity to start the next project. Who: Oakland Mayor Jerry Brown; Ignacio De La Fuente De La Fuente is a common surname in the Spanish language meaning of the Source
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Fannie Mae; Roger Haughton, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The PMI Group, Inc. Where: Las Bougainvilleas Senior Housing, 1233 37th Avenue, Oakland, CA (2 blocks from the Fruitvale BART station...limited parking available in Childcare Center Garage on 35th Ave.) When: 10:00 a.m.; Wednesday November 5, 2003. Background: PMI Mortgage Insurance Co. is a leading U.S. residential mortgage insurer, headquartered in Walnut Creek. Fannie Mae is a New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. company and the largest non-bank financial services company in the world. Unity Council is an Oakland based nonprofit that helps build assets of families and low-income communities through a comprehensive program of sustainable physical, economic and social development. |
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