Freddie Mac has completed an auction of subordinate nonguaranteed certificates.
The auction was won by 400 Capital Asset Based Master Term Fund I LP. Freddie Mac Seasoned Loans Structured Transaction Trust 2018-1 will issue the subordinate certificates and guaranteed senior certificates. The senior and subordinate certifications are backed by 2,617 seasoned reperforming loans and moderately delinquent loans with an unpaid principal balance of $497.5 million and serviced by Nationstar Mortgage LLC.
The transaction is expected to settle in June.
Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC and Loop Capital Markets LLC acted as advisers to Freddie Mac in the transaction.
