Fannie Mae, which in the past seven years has provided $1 trillion in mortgage financing to underserved markets such as minorities and rural homebuyers, is now pledging to double that to $2 trillion over the next decade to reach borrowers who did not benefit from the previous initiative.

Fannie Mae chairman Franklin Raines said black homebuyers are a major target of the expansion, adding that over the next decade $400 billion in new loans would be made available to blacks.

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