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Company official say the alliances are not a reaction to Freddie Mac's recent aggressive moves.
In a move reminiscent of the recent agreement between Freddic Mac and Norwest Mortgage, Fannie Mae entered into strategic alliances on June 1 with Resource Bancshares Mortgage Group Inc., Columbia, S.C., and Dime Bancorp's North American Mortgage Co.
Under the agreement with Resource Bancshares, the lender will sell a substantial portion of its conforming conventional loans to Fannie Mae in the next two years.
Under the terms of partnership with North American, the Tampa, Fla., lender will deliver all its conforming loan originations to Fannie Mae and will adopt Fannie Mae's automated loan underwriting system.
Freddie Mac signed the deal with Norwest in March in which the Des Moines, Iowa-based lender will turn over nearly all of its mortgage production to Freddie Mac in return for Freddie Mac's accepting loans underwritten by Norwest's...