Freddie Mac Announces Pricing of $412 Million Multifamily Small Balance Loan Securitization
MCLEAN, Va., Jan. 17, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announces the pricing of the SB70 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 issue approximately $412 million in SB
Certificates (SB70 Certificates), which are expected to settle on or about January 29, 2020. Freddie Mac Small Balance Loans generally range from $1 million to $7.5 million and are generally backed
by properties with five or more units. This is the first SB Certificate transaction in 2020.
SB70 Pricing
Class |
Principal/Notional Amount (mm) |
Weighted Average Life (Years) |
Spread (bps) |
Coupon | Yield | Dollar Price | |||
A-5H | $145.753 | 4.06 | 57 | 2.3200 | % | 2.1663 | % | 100.4772 | |
A-10F | $128.942 | 7.18 | 63 | 2.3800 | % | 2.2940 | % | 100.4728 | |
A-10H | $96.754 | 7.21 | 70 | 2.4500 | % | 2.3647 | % | 100.4683 | |
X-1 | $371.449 | 5.96 | Non-Offered |
Details:
- Co-Lead Managers and Joint Bookrunners: Wells Fargo Securities, LLC and Amherst Pierpont Securities LLC
- Co-Managers: Cantor Fitzgerald & Co., Mischler Financial Group, Inc., Stifel, Nicolaus & Company, Incorporated and SunTrust Robinson Humphrey
- SB70 Certificates Offering Circular
- Small Balance Securitization Investor Presentation PDF
Lesen Sie auch
Freddie Mac is guaranteeing three senior principal and interest classes and one interest only class of securities issued by the FRESB 2020-SB70 Mortgage Trust. Freddie Mac is also acting as mortgage loan seller and master servicer to the trust. In addition to the four classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and Class R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.