Reported 26 days ago
Fannie Mae has allocated $752 million for credit losses in its multifamily lending sector, partially attributing this to instances of fraud or suspected fraud. This provision reflects rising delinquencies and declining property values amidst ongoing investigations into potential fraudulent transactions. Despite the challenges, Fannie Mae reported a net income of $2.5 billion from its multifamily business for the previous year.
Source: YAHOO