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STATEWIDE:
Fannie Mae Relaxes Florida Condo Standards
Fannie Mae is seeking to prop up Florida's ravaged real estate market by reviewing hundreds of condo projects in the state that currently don't qualify for its loans. The mortgage finance company said Thursday that buildings deemed stable after the review will be given a special approval lasting up to 18 months. If they are approved, lenders will be allowed to offer mortgages to homebuyers and sell those loans to Fannie Mae, which pools them into bonds and sells them to investors SOURCE AP
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