Syron Tells Minority Journalists that Freddie Mac Must Do More; Challenges Them to Cover Our Progress

President Bush and Chairman and CEO Richard F. Syron spoke at the Unity Convention, held every four years.

Stressing the company's commitment to minority homeownership, Freddie Mac Chairman and CEO Richard F. Syron called the homeownership gap for minorities "unacceptable" during a recent address to thousands of journalists attending the 2004 UNITY: Journalists of Color Convention in Washington, DC. Headlining the session was President George W. Bush, who also discussed the importance of homeownership.

"You have a special stake in increasing opportunities for minorities and underserved groups in this country, which gives all of us a strong interest in common," commented Richard F. Syron.

He continued: "There's a gap of roughly 25 percentage points between the homeownership rates of minorities and non-minorities in this country. That's unacceptable. And while Freddie Mac can't cure all the social and economic ills that contribute to that gap, there's more we can and must do."

"If you see Freddie Mac make progress – get current our financial reporting, lead the way on corporate governance, meet realistic goals for affordable housing and our entire mission – then please cover that story as well," added Syron.

The UNITY Convention, considered one of the largest gatherings of journalists in the nation, brought together over 10,000 journalists nationwide this year to network with other media professionals and further develop their skills in print, broadcast, photo and online journalism.

Media professionals at the convention, including reporters, editors, student journalists and top management from media organizations across the country, are also members of a distinguished alliance: the National Association of Hispanic Journalists (NAHJ), the National Association of Black Journalists (NABJ), the Asian American Journalists Association (AAJA), and the Native American Journalists Association (NAJA). UNITY 2004 is the third time that all four minority media organizations have joined together as one.

Freddie Mac was a key sponsor at this year's UNITY Convention where it hosted a plenary session, "A Conversation with President George W. Bush." During the session, a panel of journalists asked the President about his goals for helping minority and underserved communities nationwide. Freddie Mac sponsored UNITY fours years ago and is also a long-time supporter of NABJ and NAHJ.