I rise before you today to congratulate Fannie Mae CEO Jim Johnson and all of Fannie Maes employees and local partners on the tremendous impact they have had on expanding home ownership opportunities in Minnesota and the nation. Since March 1994. Fannie Mae has helped 5.6 million families through this targeted effort. Sixtyeight percent of Fannie Maes business served families most in needminorities. new immigrants. residents of central cities and underserved areas. firsttime home buyers and people with special housing needs. I have seen firsthand the impact of this commitment in Minneapolis and the Twin Cities metropolitan area. Fannie Maes Minnesota Partnership Office piloted a highly successful low downpayment mortgage. known as the "Minnesota Flex." which is now offered in many communities nationwide.
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