The refinancing, arranged by Prudential's Yogesh Joshi on behalf of Fannie Mae, is for seven years and carries an interest rate of 6.78%. Fannie Mae is the nation's largest source of financing for home mortgages, and is the key player in the secondary mortgage market.

Prudential Mortgage Capital Company is a national full-service, commercial mortgage finance business, originating mortgage loans for Fannie Mae and FHA programs, the capital and high-yield markets, Prudential's general account, and other institutional investors. Prudential Mortgage Capital has a combined servicing portfolio of $32 billion as of December 31, 2000.

The Prudential Insurance Company of America, with more than $371 billion in assets under management as of December 31, 2000, is among the largest financial services institutions in the world, and one of the largest life insurance companies in the United States.