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January 27, 1995| Times Staff and Wire Reports

L.A., Fannie Mae Announce Housing Program: The City of Los Angeles and the Federal National Mortgage Assn. are expected to announce today a $3.3-billion, five-year program to help families buy houses. Officials would not provide details prior to the announcement. Fannie Mae, a government-sponsored corporation that buys mortgages from lenders and sells them to investors, has set a goal of providing $1 trillion in lending for 10 million homes by the end of the decade to low-income, minority and other borrowers.

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