Federal Housing Bill Pulte Responds to Reports of Sharia Compliant Home Mortgages

Federal housing regulator Bill Pulte stated that Fannie Mae and Freddie Mac do not issue Sharia-compliant mortgages, despite reports. A private company, Guidance Residential, uses Fannie Mae and Freddie Mac as investors for its “Islamic co-ownership financing” product, structured to avoid interest as per Sharia principles. Pulte announced that these programs, along with Kosher and Amish programs, will be open and marketed to all Americans.

• Federal housing regulator Bill Pulte responded to reports of Sharia-compliant mortgage loans purchased by Fannie Mae and Freddie Mac.
• Pulte stated that Fannie Mae and Freddie Mac “DON’T GIVE OUT SHARIA MORTGAGES.”
• Guidance Residential, an Islamic home-financing company, publicly states it uses Freddie Mac and Fannie Mae as investors for its “Islamic co-ownership financing.”
• This financing model is designed to comply with Sharia principles prohibiting interest (riba).
• Guidance claims its Sharia board and law firms developed a contract allowing Freddie Mac’s participation without purchasing conventional debt.
• Federal data indicates Fannie Mae and Freddie Mac have become primary investors in these Islamic mortgages, injecting billions of dollars.
• National security analysts have expressed concerns that Sharia-compliant finance could be a vehicle for ideological penetration and support networks.
• Pulte confirmed earlier this month that officials were examining the Fannie/Freddie Sharia-compliant loans.
• Effective immediately, these programs, along with Kosher and Amish programs, will be open and marketed to ALL AMERICANS.