Today, Mr. Greenspan said, the companies stand behind about $4 trillion worth of mortgages - about three-quarters of all single-family mortgages in the United States.

The company, known as Freddie Mac, said it had lost $81 million on apartment loans and $43 million on single-family mortgages.

Through Freddie Mac and Fannie Mae for a nominal cost, you have essentially removed the credit risk from the basic single-family mortgage.

The first assets to be securitized in the early 1980's were single-family mortgages.

Ohio Housing Finance Agency, $200 million of revenue bonds for single-family mortgages.

Beginning Jan. 1, Fannie Mae's limit on single-family mortgages will be $191,250, up from $187,450.

Oklahoma Housing Finance Agency, $150 million of revenue bonds backed by single-family mortgages.

In addition, management has shifted the portfolio mix from single-family mortgages toward higher-yielding consumer assets like auto, consumer and home equity loans, he said.

Mr. Woods acquired its predecessor, Gatesville Savings, a small institution with $34 million in single-family mortgages, with a $2 million loan in 1982.

To write a commercial mortgage now banks have been forced by regulators to reserve twice the amount of capital needed for a single-family mortgage.