WASHINGTON - Franklin D. Raines on Monday promised banks that Fannie Mae has no interest in originating mortgage loans.

Its chairman and chief executive officer insisted Fannie can meet stockholder demands for growth without encroaching on banks' mortgage business. Stressing the government-sponsored enterprise's role as a partner, not a competitor, of banks, he announced a plan to work with the American Bankers Association to help banks comply with the Community Reinvestment Act.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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