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Article: Fannie Mae Creates New Multifamily Aggregation Facility to Accumulate Loans, Give Lenders More Efficient Secondary Market Execution; Morgan Stanley Will Assist With Structuring and Sale of Securities
- Article from:
- PR Newswire
- Article date:
- January 9, 1997
CopyrightCOPYRIGHT 1997 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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WASHINGTON, Jan. 9 /PRNewswire/ -- Fannie Mae (NYSE: FNM) today announced a new product, the Fannie Mae Aggregation Facility, that will allow multifamily lenders to further benefit from the efficiencies and cost savings of the secondary market, without the hedging risk associated with holding loans for future sale. The Aggregation Facility lets selected lenders sell multifamily mortgage loans to Fannie Mae, which will accumulate the mortgages until they reach a size that allows for an efficient secondary market execution of the loans, using its Wisconsin Avenue Securities Real Estate Mortgage Investment Conduit (REMIC) structure.
With the Aggregation ...
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