Article: Fannie Mae granted unlimited REMIC authority. (Real estate mortgage investment conduit)

FANNIE MAE GRANTED UNLIMITED REMIC AUTHORITY

WASHINGTON, Oct. 14 /PRNewswire/ -- The Federal National Mortgage Association (Fannie Mae) (NYSE: FNM) announced today it has received permanent and unlimited authority to issue REMIC (real estate mortgage investment conduit) securities.

Fannie Mae was notified of the decision late yesterday by Samuel R. Pierce, secretary of the Department of Housing & Urban Development (HUD), in response to a request submitted by the company.

David O. Maxwell, Fannie Mae's chairman and chief executive officer, said the company appreciated Pierce's decision because it will benefit all segments of the housing ...

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