Mortgage giant Fannie Mae is well on its way to financing $1 trillion in housing for low income, minority, and other underserved borrowers by the end of the decade, despite anemic loan volumes in the first half of 1995, chairman James A. Johnson said.

"We are on course," Mr. Johnson said at a news conference Friday, "and our efforts already have fundamentally transformed how millions of American families now gain access to the mortgage credit system."

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