Apartment-loan defaults fuel more losses for Fannie, Freddie

11/18/2009 | Wall Street Journal, The

Having lost billions on single-family residential loans, Fannie Mae and Freddie Mac are bracing for another round of losses, this time on apartment lending. Previous losses already forced the U.S. Treasury to pump more than $110 billion into the companies. Fannie, which has the highest delinquency for multifamily properties, saw apartment loans that were 60 days or more late on payment increase to 0.62% in September, up from 0.16% the same month last year.

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