The reason that defendant gave plaintiff for denying his 2004 loan application was that the property he wanted to buy "as is" was not in habitable condition and therefore did not satisfy the Fannie Mae property and appraisal guidelines for the underwriting of residential mortgage loans (see Fannie Mae Single Family 2002 Selling Guide, XI, 202: Status of Construction [06/30/02], available at http://www.allregs.com/efnma). On its cross motion for summary judgment, defendant...
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