Freddie Mac Announces Pricing of $233 Million Multifamily Small Balance Loan Securitization
(firmenpresse) - MCLEAN, VA -- (Marketwired) -- 11/03/16 -- (OTCQB: FMCC) announces the pricing of the SB24 offering, a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust. The company expects to guarantee approximately $233 million in Multifamily SB Certificates (SB24 Certificates), which are anticipated to settle on or about November 17, 2016. This is the fourteenth SB Certificate transaction in 2016.
Sole lead manager and bookrunner: J.P. Morgan Securities LLC
Co-managers: Academy Securities Inc., FTN Financial Capital Markets, Raymond James & Associates, Inc. and Wells Fargo Securities, LLC
107 mortgages originated by CBRE Capital Markets, Inc. and Greystone Servicing Corporation, Inc.
Freddie Mac is guaranteeing six senior principal and interest classes and an interest only class of securities issued by the FRESB 2016-SB24 Mortgage Trust and is also acting as mortgage loan seller and master servicer to the trust. In addition to the seven classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of the Class B and R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.
The (SBL) origination initiative was first announced in October 2014, and expands the company''s continuing effort to better serve less populated markets and provide additional liquidity to smaller apartment properties. Loans in the program generally range from $1 million to $5 million and are backed by properties with five or more units. Freddie Mac has a specialty network of Seller/Servicers and SBL lenders with extensive experience in this market who source loans across the country.
This announcement is not an offer to sell any securities of Freddie Mac or any other issuer. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac''s Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission (SEC) on February 18, 2016; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2015, excluding any information "furnished" to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information furnished to the SEC on Form 8-K.
Freddie Mac''s press releases sometimes contain forward-looking statements. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company''s Annual Report on Form 10-K for the year ended December 31, 2015, and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company''s Web site at and the SEC''s Web site at .
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation''s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for approximately one in four home borrowers and is the largest source of financing for multifamily housing. Additional information is available at , Twitter and Freddie Mac''s blog .
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Datum: 03.11.2016 - 15:12 Uhr
Sprache: Deutsch
News-ID 1467954
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