In Brief: Freddie Mac to Buy Indian Land Mortgages

American land starting this month. The company announced the purchases would be made through two programs sponsored by the Department of Housing and Urban Development. Freddie Mac said the purchase program would provide borrowers in Native American communities with greater access to mortgage financing by helping lenders to originate loans there. The agency had previously been buying loans originated under a special HUD program and will now also be taking mortgages from an FHA program. Both programs provide lenders with 100% guarantees of principal and interest and are intended to overcome problems arising from making loans to homes on trust lands. - Compiled from staff reports