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WASHINGTON, DC-The nation’s largest source of financing for home mortgages, which operates pursuant to a federal charter, is planning to redeem two more securities issues. Fannie Mae will redeem them on July 12 at a price equal to 100% of the principal amount redeemed, plus accrued interest up to July 12.

The first is an MTN security type. Its principal amount is $25 million with an interest rate of 7.6%. The maturity date is July 12, 2004. Its CUSIP is 31364KQS2.

The second is an MTNR security type. Its principal amount is $15 million with an interest rate of 7.5%. The maturity date is July 12, 2006. Its CUSIP is 31364KRD4.

The redemptions are only one part of the overall operations of the company that states its goal as “working to shrink the nation’s homeownership gap through a $2 trillion American Dream Commitment to increase homeownership rates and serve 18 million targeted American families by the end of the decade.” The company has already provided more than $3 trillion of mortgage financing to 38 million families.

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