Freddie Macdisclosed the pricing of its eighth guaranteed multifamily small balance loan securitizationof 2016.
The offering is a multifamily mortgage-backed securitizationbacked by small balance loans underwritten by Freddie Mac and issued by a third-partytrust.
Freddie Mac expects to guarantee approximately $106 million inmultifamily SB certificates, expected to settle on or about July 26.
J.P. Morgan Securities LLC is acting as sole lead manager andbook runner. Loop Capital Markets LLC, Raymond James & Associates Inc., StifelFinancial Corp. and Wells Fargo Securities LLC are acting as co-managers. ReadyCapCommercial LLC originated 58 mortgages.
Freddie Mac is guaranteeing six senior principal and interestclasses and an interest only class of securities issued by the FRESB 2016-SB18 MortgageTrust. It is also acting as mortgage loan seller and master servicer to the trust.The trust will also issue certificates consisting of the class B, X2 and R certificates,which will not be guaranteed by Freddie Mac and will be sold to private investors.