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Fannie Doesn’t Want New York Subprime, Either 

Aug 22, 2008By

Following in the footsteps of Freddie Mac [stock FRE][/stock], Fannie Mae [stock FNM][/stock] said earlier this week that it would no longer purchase subprime loans fitting New York State’s new definition for the credit class. The decision by both GSEs to exit subprime loan purchases in New York comes on the heels of new legislation designed to protect borrowers from predatory lending practices.

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