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Home » Fannie Lets Servicers Enjoy the Float Once Again
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Fannie Lets Servicers Enjoy the Float Once Again

October 15, 2008
Fannie Mae last week reversed course and allowed an unspecified number of its mortgage-backed securities servicers to take advantage of the “float” resulting from holding principal and interest payments due the GSE. Fannie took the step after the Federal Deposit Insurance Corp. yielded to pressure from mortgage industry groups to amend some of the deposit insurance rules for accounts held at...
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