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SERIES Office of Policy Development and Research U.S. Department of Housing and Urban Development The Multifamily Secondary Mortgage Market: The Role of Government-Sponsored Enterprises1 I. Introduction Fannie Mae and Freddie Mac are the two largest government sponsored enterprises (the GSEs) involved in the housing mortgage markets. This paper examines the role of the GSEs in the market for multifamily mortgages.2 The authors examine the role these enterprises currently assume, including.

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