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Fannie Mae here has agreed to purchase $5 billion in affordable mortgage loans over five years from Dallas-based CTX Mortgage Co. in a joint initiative between the two companies. CTX said it will increase its affordable mortgage lending to more than 55,000 underserved families as part of the agreement.
U.S. Representative Martin Frost, D-Tex., said the partnership would "go a long way to reaching out to those borrowers who have been traditionally underserved by the mortgage markets."
The companies said they will offer new and expanded flexible mortgage...