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TALLAHASSEE, Fla. — Despite all the bad press mortgage-backed securities have received–or actually, because of it–some credit unions are snapping up the controversial investments, which many think are presently undervalued.

Dan McGowan, senior vice president/chief financial officer of $208 million Envision Credit Union, recently invested $33 million in mortgage-backed securities, representing his credit union’s entire investment portfolio.

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