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Article: Fannie Mae Invests in New York National Bank in an Effort to Expand Lending Opportunities for Underserved Community.
- Article from:
- Business Wire
- Article date:
- July 7, 2000
CopyrightCOPYRIGHT 2000 Business Wire. 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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Business Editors
BRONX, N.Y.--(BUSINESS WIRE)--July 7, 2000
Fannie Mae (NYSE:FNM), the nation's largest source of financing for home mortgages, today announced a $670,000 equity investment in New York National Bank, a minority-owned financial institution in the South Bronx.
U.S. Representative Jose Serrano (D-NY), joined representatives from New York National and Fannie Mae to announce this Community Development Financial Institution (CDFI) Initiative investment, which will enhance the bank's ability to address the lending and financial services needs of underserved populations residing in the South Bronx.
"This investment in New York ...