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Insites

Mar. 2, 2010

INSURANCE

ALAMEDA - Wells Fargo Bank NA has decided to stop making loans on condominium projects, according to Hanson Law Firm. The financial institution claims it is rejecting to make such loans due to a Fannie Mae policy implemented in December of 2008. The bank will not make a loan on condominiums if the insurance company covering the property has issued a policy on any other single-family planned unit development or another condominium homeowners' association.

ALAMEDA - Wells Fargo Bank NA has decided to stop making loans on condominium projects, according to Hanson Law Firm.

The financial institution claims it is rejecting to make such loans due to a Fannie Mae policy implemented in December of 2008.

The bank will not make a loan on condominiums if the insurance company covering the property has issued a policy on any other single-family planned unit development or another condominium homeo...

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