WASHINGTON - Fannie Mae and Freddie Mac scored a public relations coup when President Clinton announced their latest affordable-housing programs at a Labor Day ceremony in South Florida.

The agencies have pledged to securitize $600 million in loans for affordable housing. In turn, AFL-CIO pension funds made a commitment to buy the mortgage-backed securities.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.