Multifamily only unit to generate profit for GSEs since 2008 via HousingWire

The only profits Fannie Mae and Freddie Mac generated since entering conservatorship in 2008 came from financing multifamily mortgages, according to the inspector general of the Federal Housing Finance Agency.

The GSEs earned a $7 billion gain from their multifamily division between 2008 and the first quarter of 2012. It's more than overwhelmed by the $208 billion in total losses from the single-family mortgage business, $4 billion in investment losses and $16 billion in what the FHFA OIG called "other losses," according to a report released Thursday.

As of March 31, both GSEs drew more than $188.4 billion in bailouts from the Treasury Department and paid back $41 billion in dividend payments, according to their financial filings.

Read more...Multifamily only unit to generate profit for GSEs since 2008 | HousingWire