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Fannie Mae To Share Patented Lending Technology

Law360 (November 22, 2006, 12:00 AM EST) -- Drawing sighs of relief from the industry, U.S. mortgage finance giant Fannie Mae said on Tuesday that it would allow all lenders to use new patented lending technology “on a nonexclusive and royalty-free basis.”

Fannie Mae’s patents for a lending technology system that tailors mortgage loans precisely to borrowers’ needs were approved in August, sparking fears that Fannie Mae and sibling company Freddie Mac would start moving into primary mortgage markets.

Currently, both Fannie Mae and Freddie Mac are legally required to stay within the secondary...
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