WASHINGTON - The Federal National Mortgage Association said it has agreed to help a unit of Bank of Boston Corp. finance $3 billion of new home loans over the next 12 months.

Under the agreement, Banc-Boston Mortgage Corp. of Jacksonville, Fla., will originate 15-, 20-, and 30-year fixed rate mortgages and seven-year balloon mortgages. The company will either exchange the loans for Fannie Mae mortgage securities or sell them to the agency for cash.

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