Freddie Mac, in partnership with Aon, purchased credit risk insurance for the first 5% of credit losses on a $915 million loan reference pool, marking its first multifamily credit risk insurance pool offering.
The loan reference pool has an average loan balance of $16.6 million and is made up of 55 loans under the government-sponsored enterprise's bond credit enhancement and multifamily participation certificate program portfolios.
A majority of the 55 properties in the pool include rent-restricted units. Five reinsurers were part of the offering.