Last year was a record year for co-op apartment loans in New York City and surrounding counties, with a 41% increase in originations, Fannie Mae said.

In 1999 Fannie bought close to 9,300 co-op loans totaling $887 million, up from 6,600 loans in 1998, the company said. About 50% of the loans last year were made under a special co-op program with flexible underwriting requirements, said Naomi Bayer, director of Fannie Mae's New York Partnership Office.

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