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Fannie Cuts FHA-Like Deals to Sell Homes

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Even as Fannie Mae tightens standards on most new mortgages, the GSE is offering buyers of its repossessed homes financing with some of the most generous terms available today.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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