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BANCBOSTON, FANNIE MAE TO PROVIDE $3 BILLION IN MORTGAGE FINANCING FOR HOME BUYERS NATIONWIDE

BANCBOSTON, FANNIE MAE TO PROVIDE $3 BILLION IN MORTGAGE FINANCING
 FOR HOME BUYERS NATIONWIDE
 ATLANTA, Oct. 6 /PRNewswire/ -- BancBoston Mortgage Corporation, Jacksonville, Fla., and the Federal National Mortgage Association (Fannie Mae) (NYSE: FNM) have signed an agreement to provide financing for $3 billion of single-family home mortgages, the two companies said today.
 The mortgages, to be originated nationwide, will include 15-, 20- and 30-year fixed-rate and 7-year balloon mortgages. The mortgages will be exchanged for Mortgage-Backed Securities issued by Fannie Mae or sold to the company for cash over the next 12 months.
 "BancBoston Mortgage has had a long and positive relationship with Fannie Mae, and this agreement continues that tradition," said Hugh Harris, vice chairman in charge of BancBoston's retail production in Jacksonville. "With the $3 billion, our loan officers around the country are committed to making quality loans to buyers who are achieving the American dream of homeownership."
 Glenn T. Austin Jr., senior vice president in charge of Fannie Mae's 12-state Southeastern Regional Office located here, said: "Fannie Mae's strong relationship with this high quality lender will bring billions of dollars of new mortgage financing into the housing finance market at a time when interest rates are at their lowest level in nearly 20 years. This combination of positive factors will make homeownership a reality for thousands of Americans."
 BancBoston Mortgage Corporation is a Bank of Boston company with residential and income property offices from South Florida to New England. It is one of the top 10 wholesale lending companies in the country and is one of the top 10 mortgage banking companies with a $21 billion servicing portfolio. BancBoston's home office is in Jacksonville.
 Fannie Mae, the USA's Housing Partner, is a congressionally chartered, shareholder-owned company and the nation's largest investor in home mortgages.
 -0- 10/6/92
 /CONTACT: Gene Eisman of Fannie Mae, 202-752-6673, or Susan Budd, APR, public relations, BancBoston Mortgage Association, 904-281-3444/
 (FNM) CO: Federal National Mortgage Association; BancBoston Mortgage
 Corporation ST: District of Columbia, Florida IN: FIN SU:


MH -- DC005 -- 7009 10/06/92 11:05 EDT
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Date:Oct 6, 1992
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