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FMLC |
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s two largest mortgage controllers, Freddie Mac (FMLC) and Fannie Mae (FNMA) recently agreed to enact tougher standards on appraisers and lenders beginning in January 2009 FMLC and FNMA buy mortgages from all facets of the mortgage industry and together they control over 80 percent of the mortgage industry In a paper published on 24 March 2006, the FMLC says that this would be detrimental to securitisations and project finance transactions. The FMLC is a public body created under the laws of the state of Florida to finance projects on a cost-effective basis and to benefit municipalities through economies of scale. |
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