Fannie, Freddie Say Multifamily Biz Needs Gov't Lifeline

Law360, New York (May 3, 2013, 7:53 PM EDT) -- The Federal Housing Finance Agency on Friday disclosed two reports from Fannie Mae and Freddie Mac that found the government-sponsored enterprises' multifamily businesses would be relatively worthless when compared to their current businesses without the government's backing.

Fannie Mae and Freddie Mac took a good look at the businesses as part of the FHFA's directive to review how operations might play out if the existing government guarantee were removed and the companies were left to stand on their own and rely on private capital.

Their conclusions...
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