Freddie Machas priced an offering of approximately $238 million worth of structured pass-throughcertificates backed by small balance loans originated by First Foundation Bank andre-underwritten by the specialty lender.
The certificates are expected to settle on or about July 28.
The certificates are backed by corresponding classes issued bythe FRESB 2016-SB19 Mortgage Trust and are guaranteed by Freddie Mac. The trustwill also issue certificates consisting of the class B and R certificates, whichwill not be guaranteed by Freddie Mac and will be sold to private investors.
Wells Fargo Securities LLC serves as the sole lead manager andbook runner for the offering. Amherst Pierpont Securities LLC, J.P. Morgan SecuritiesLLC, Loop Capital Markets LLC and Raymond James & Associates Inc. act as co-managers.