Fannie Mae, GE Capital Mortgage Corp., an investment advisory firm, and an institutional investor have joined forces to issue what is said to be the first mortgage security backed by loans exclusively from minority-owned institutions.

Said William Michael cunningham, president of the advisory company, Creative Investment Research: "This opens the secondary mortgage market to minority-owned financial institutions and the customers they serve. The more access these institutions have to the secondary market, the more mortgage loans they can offer to minority and low-to-moderate-income homebuyers."

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