Freddie Mac Announces Pricing of $258 Million Multifamily

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
389
Freddie Mac Announces Pricing of $258 Million Multifamily Small Balance Loan Securitization

MCLEAN, VA--(Marketwired - Nov 16, 2017) - Freddie Mac ( OTCQB : FMCC ) announces the pricing of the SB42 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 $258 million in Multifamily SB Certificates (SB42 Certificates), which are anticipated to settle on or about November 28, 2017. Freddie Mac Small Balance Loans generally range from $1 million to $6 million and are backed by properties with five or more units. This is the seventeenth SB Certificate transaction in 2017.

 
SB42 Pricing
 
Class   Principal/ Notional Amount (mm)   Weighted Average Life (Years)   Spread (bps)   Coupon   Yield   Dollar Price
A-5H   $133.891   4.12   S + 51   2.7100%   2.5520%   $100.4864
A-10F   $124.459   7.23   S + 67   2.9600%   2.8761%   $100.4489
X1   $287.057   5.03   Non-Offered
             

Details

  • Sole lead manager and bookrunner: J.P. Morgan Securities LLC
  • Co-managers: Amherst Pierpont Securities LLC, Drexel Hamilton, LLC, Stifel, Nicolaus & Company, Incorporated and Wells Fargo Securities, LLC
  • 119 mortgages originated by CBRE Capital Markets, Inc., Greystone Servicing Corporation, Inc., Pinnacle Bank, RED Mortgage Capital, LLC and The Community Preservation Corporation
  • SB42 Certificates Offering Circular
  • Small Balance Securitization Investor Presentation

Freddie Mac is guaranteeing two senior principal and interest classes and an interest only class of securities issued by the FRESB 2017-SB42 Mortgage Trust and is also acting as mortgage loan seller and master servicer to the trust. In addition to the three classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.

The Small Balance Loan (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. 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, 2016, filed with the Securities and Exchange Commission (SEC) on February 16, 2017; 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, 2016, 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, 2016, 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 http://www.FreddieMac.com/investors and the SEC's Web site at http://www.sec.gov .

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog .

MEDIA CONTACT: Christopher Spina 703-388-7031 Christopher_Spina@FreddieMac.com INVESTOR CONTACT: Robert Koontz 571-382-4082 Aaron Dunn 571-382-5818

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Medicare Competitive Bidding May Slash Jobs, Access

Updated Category News Views 3

Medicare's New Program: Potential Knockout Punch? Today, we dive into Medicare's latest shake-up that might just be the unseen wrecking ball swinging toward thousands of jobs and small businesses in the healthcare sector. Two years from now, starting January 2028, the Competitive Bidding Program is set to reroute the entire landscape for suppliers of key medical products...

Continue Reading
B2B Growth Hinges on Narrative Coherence, Study Shows

Updated Category News Views 5

Clear Stories, Stronger Growth If companies can't tell a clear story that their buyers understand and believe, they're destined to stagnate. That's the blunt reality kompeld is pushing with their H2 2026 Narrative Coherence Benchmark. The report scores 150 B2B tech companies on their narrative coherence, showing there's a stark correlation between storytelling and growth....

Continue Reading
ScholarShare 529 Launches $50 Back-to-School Promo

Updated Category News Views 5

California Families Get a Boost With New 529 Plan Offer Everywhere you turn, it's 'back to school' mania right now, and ScholarShare 529 aims to ride that wave by sweetening the pot for parents ready to think ahead. So here's the gist—California's official college savings plan is handing out a $50 gift card for new accounts opened between now and September 30th. Setting...

Continue Reading
NY Sheriffs' Court Battle: Immigration Policies Under Fire

Updated Category News Views 10

Sheriffs Clash with State Over Immigration Policies In a tense showdown reminiscent of an old-time standoff, 15 New York county sheriffs have drawn their battle lines against the state’s capricious maneuvers by pushing a federal court to hit the brakes on Albany’s newly minted immigration rule. The so-called “Local Cops, Local Crimes Act” is catching serious heat,...

Continue Reading
Red Banyan Earns Top Honors in Florida for 2026

Updated Category News Views 5

Red Banyan: A Powerhouse in Reputation Management Boy, have you ever watched a company rise through the ranks almost like a caffeine kick on a drowsy morning? That's Red Banyan for you. This outfit, right out of Fort Lauderdale, snagged the '2026 Best of Florida' award as the cream of the crop in the Business Consulting Firms category. It’s like taking home an Oscar in...

Continue Reading
Robotics in Cleaning: 2026 Sees Double Adoption Rates

Updated Category News Views 6

Cleaning Industry Eyes Robotic Solutions Amid Labor Squeeze In a twist that's got industry veterans nodding knowingly, the cleaning industry is tipping towards automation. The recent 2026 Building Service Contractor Market Study reveals a massive leap: 32% of building service contractors (BSCs) plan to embrace robotic floor equipment in the coming year. That's a...

Continue Reading
Lyric Health's AI System Promises Data-Driven Revolution

Updated Category News Views 3

A Bold Step in Healthcare Coordination No doubt about it, healthcare is a mess. It's like trying to patch a leaking ship with duct tape—point solutions here, add-ons there, and nothing truly working in harmony. And in storms in Lyric Health, claiming they've got the answer. They've launched an AI-powered Healthcare Operating System meant to unify these disjointed pieces...

Continue Reading
Rosewood HK Tops Best Hotel List Again; Asia Shines

Updated Category News Views 4

Holding the Crown: Rosewood Hong Kong's Triumph When a single hotel keeps nabbing the top spot in the world's most prestigious rankings, it's worth taking a closer look. That's exactly what's happening with Rosewood Hong Kong, crowned the world's best once more in 2026—its second consecutive year at the pinnacle according to The 50 Best Hotels. Defining Luxury on a...

Continue Reading
Goddess Maintenance Co. Eyes BeautyMatter Award

Updated Category News Views 4

Challenging the Haircare Norm with Confidence Goddess Maintenance Co. doesn't just draft a fresh play in the beauty industry playbook—it's ripping out the old pages and setting a new standard. This ain't your granny's haircare game anymore, folks. They're up for a 2026 BeautyMatter Award, a nod to their gut-busting innovation in the conditioner category with their star...

Continue Reading
Jacob Walthour to Be Honored for Economic Leadership

Updated Category News Views 5

The Honoring of Leadership That Goes Beyond Business In a world where financial influence often feels like it funnels into the same familiar pockets, the news of Jacob Walthour Jr.'s upcoming recognition feels like a fresh breeze of change. The Alpha Phi Alpha's Alpha Alpha Lambda Chapter is rolling out the red carpet at its Centennial Gala for Walthour, throwing him into...

Continue Reading

Top 5 Most Recently Viewed Articles

Explore the Top Cruise Lines for 2025: A Comprehensive Guide

Updated Category News Views 255

Introducing the 2025 Best Cruise Lines Rankings Each year, travelers look forward to the rankings released by notable organizations that help them navigate their vacation choices. For 2025, U.S. News & World Report has unveiled its much-anticipated list featuring the 'Best Cruise Lines' across various categories. Cruise Lines for Every Traveler This year, the rankings...

Continue Reading
SECU's Kindness Month Encourages Community Engagement and Wellness

Updated Category News Views 59

SECU's Kindness Month Aims to Inspire Generosity SECU, Maryland's largest state-chartered credit union, is excited to announce its fifth annual Kindness Campaign this October. With a strong commitment to spreading kindness throughout the community, SECU aims for a remarkable goal of inspiring 500,000 acts of kindness within a single month. This initiative will be tracked...

Continue Reading
Q32 Bio Implements Key Restructuring to Propel Bempikibart

Updated Category News Views 118

Q32 Bio Implements Key Restructuring to Propel Bempikibart Q32 Bio Inc. (NASDAQ: QTTB) has made significant strides in its strategic direction, aiming to enhance the advancement of its promising therapy, bempikibart, particularly for alopecia areata patients. This announcement follows the continued positive emergence of data from the SIGNAL-AA Phase 2a clinical trial,...

Continue Reading
Inspira Technologies Welcomes New VP of Global Sales

Updated Category News Views 171

Inspira Technologies Appoints New Leaders Inspira™ Technologies OXY B.H.N. Ltd. (NASDAQ: IINN), a leader in innovative life-support and diagnostic technologies, has made significant strides in its organizational structure. The recent appointments of Mr. Mike Hershkovitz as Vice President of Global Sales and Ms. Sivan Matza to the Board mark a pivotal moment in the...

Continue Reading
INMOTION V9 Launch: Revolutionizing the Electric Unicycle Market

Updated Category News Views 513

INMOTION Unveils the Revolutionary V9 Electric Unicycle INMOTION Technologies Co., Ltd., a global frontrunner in intelligent personal mobility, has introduced the V9, setting a new benchmark in the electric unicycle industry. This innovative device has been crafted to boost safety, intelligence, and entertainment, paving the way for greater adoption and advancement within...

Continue Reading