Mortgage Financing
Sub-Title:
Fannie Mae and Freddie Mac's Multifamily Housing Activities Have IncreasedAuthor:
William B. ShearPublisher:
DIANE Publishing CompanyPublication Date:
11-11-2012ISBN:
9781457840296Pages:
104Subjects:
EconomicsAvailable as:
Paperback, 9781457840296Description:
Congress established Fannie Mae and Freddie Mac in 1968 and 1989,
respectively, as for-profit, shareholder-owned corporations. They share a primary mission that has been to stabilize and assist the U.S. secondary mortgage market and facilitate the flow of mortgage credit. But in Sept. 2008, the Fed. Housing Finance Agency (FHFA) placed the enterprises in conservatorship out of concern that their deteriorating financial condition would destabilize the financial system. As Congress and the Executive Branch have explored options for restructuring the enterprises, most of the discussion has focused on the single-family market. But the enterprises also play a large role in providing financing for multifamily properties (those with five or more units). This report describes (1) how the enterprises’ multifamily loan activities have changed; (2) the enterprises’ role in the multifamily financing marketplace and how they met affordable housing goals; and (3) how the enterprises’ multifamily delinquency rates compare with those of other mortgage capital sources and how they have managed their credit risk. Tables and figures. This is a print on demand report.
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