I'm certain it came from the government. I was in Real Estate during this time and got a call one day from a friend of mine who was a mortgage officer with a local bank. She asked if our office had a minority client with POOR credit that we could send her as she needed one more before the end of the month. I told her I was working with a non-minority couple with NO credit as they had just recently married. Both were teachers so they had good jobs but limited funds for down payment. She said she was sorry but the FNMA guidelines were very specific and it MUST be a minority with POOR credit for a no downpayment loan at 105% of appraised value! And you know the rest of the story!
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