Lender Announcement 05-04 - Fannie Mae
There are several specific conversion risks for rental housing with project-based assistance. Mortgage Prepayment. Although Section 236 and Section 221(d)(3) BMIR mortgages originally had 40-year terms, program regulations allowed most for-profit owners to prepay their mortgages after 20 years. By prepaying, in most cases owners may ................
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