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December 04, 1991|From Times Staff and Wire Reports

GlenFed Plans Low-Income Loan Push: Glendale Federal Bank and Fannie Mae announced a $1-billion program of low- and moderate-income single-family home loans in California and Florida. GlenFed, the nation's fourth-largest thrift, will issue the loans. Fannie Mae, formally known as the Federal National Mortgage Assn., will secure them. The loans will be in conjunction with Fannie Mae programs that provide loans at 95% of a home's value and require a 3% down payment by the borrower and 2% contribution from gifts or other sources.

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