New Fannie Mae Mortgage With No 90 Day Wait-any Info?

Hi,

We've made an offer on a repo owned by Fannie Mae with us to use a FHA loan. They countered that they want us to use their new loan that doesn't have the 90 day wait period.

The seller's agent, my agent and my Wells Fargo mortgage broker didn't know anything about this.

Have any of you heard of this new loan? I will be able to post the exact name of it later tonight after meeting with agent.

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