Fannie, Freddie Aid More Apartment Financing

Washington, DC, April 9, 2012 -- Government supported mortgage companies Fannie Mae, Freddie Mac and Ginnie Mae in the first quarter sold $13.5 billion in securities that are tied to bonds to finance apartment buildings, according to Bloomberg News.

That's an 81% increase from the first quarter of 2011 and up from $5.2 billion issued in all of 2008, Bloomberg reported. It’s the highest quarterly issuance since records began in 1993.
 
Fannie, Freddie and Ginnie are packaging apartment debt into securities for sale as regulators instruct them to aid housing and shrink their balance sheets, Bloomberg said.

Building permits for U.S. apartments rose 56% in the 12 months ended in February from the low in 2009, Bloomberg noted.