Working with Habitat is one of the many ways that this industry contributes to housing opportunities throughout the nation. I'd like to add my special congratulations to Don Lange for leading MBA's partnership with Habitat during his year. This has certainly been an extraordinary year to serve as MBA president. With two consecutive years of record volume, it has been a time of great energy for the industry and great opportunity for homebuyers. At the same time, familiar ways of doing business are shifting.
Traditional partnerships are strained just as new ones are being formed.
These are formidable challenges to manage. I wish Kit Sumner well as he guides the MBA through these turbulent waters and offer him my good will and the support of Freddie Mac. Three weeks ago I stood with several of the leaders of the nation's African-American community at a press conference in Washington to announce a major Consumer Credit Initiative. The initiative is based on research into the credit behavior of consumers. It is a joint initiative by Freddie Mac and five historically black colleges and universities.