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Fannie Mae moves to aid affordable loans.(Friday Home Guide)
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Fannie Mae Chairman and Chief Executive Officer James A. Johnson this week said Fannie Mae is committed to eliminating the risk mortgage lenders face from requests that they repurchase home loans they sell to Fannie Mae.
Mr. Johnson set a company goal of steadily reducing the number of requests for loan repurchases by lenders. He said that the most important effect of the changes will be an increase in affordable housing lending nationwide by a reduction in lenders' worries that they will be forced to buy back riskier loans.
"Mortgage lenders should be free of the ...
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