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Article: Freddie Mac and Washington Mutual Complete $6 Billion Multifamily Mortgage Loan Swap Transaction; Transaction Contributes Significantly to Freddie Mac's Fulfillment of 2003 Affordable Housing Goals.
- Article from:
- PR Newswire
- Article date:
- October 21, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Freddie Mac announced today that it has purchased a $6 billion portfolio of multifamily mortgages from Washington Mutual Bank, FA and Washington Mutual Bank (collectively, WaMu) in exchange for Freddie Mac PCs. The transaction underscores Freddie Mac's commitment to affordable housing and contributes significantly to the corporation's ability to meet the 2003 affordable housing goals set by the Department of Housing and Urban Development. The purchase of this portfolio, which consists primarily of 5- to 50-unit mortgages, is especially significant because affordable housing goal regulations provide special incentives to encourage Freddie Mac's financing of mortgages on ...
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