Industry critics continue to complain about Fannie Mae’s acquisition, development and construction loan program, but a copy of HUD’s original authorization obtained by Inside The GSEs indicates the agency has already addressed most of the issues now being raised. Perhaps the most frequent complaint being lodged against Fannie’s program, now two years old, is that HUD approved it in the dark, without consulting anyone in the industry. However, according to HUD’s original Findings and Determination,…