WASHINGTON - Fannie Mae will invest in a $50 million loan commitment made by Residential Funding Corp. to finance more than 1,550 affordable single-family homes throughout California.

The loan is to a development partnership that includes the California Public Employees Retirement System, known as Calpers, and Hearthstone Advisors. Calpers is one of the largest public pension funds in the nation, with some $70 billion in assets.

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