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Freddie Mac prices $1.9B securitization of modified loans

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Freddie Mac prices $1.9B securitization of modified loans

Freddie Mac has priced a $1.9 billion offering of guaranteed senior and unguaranteed subordinate securities, under its Seasoned Credit Risk Transfer Trust securitization program.

This Seasoned Credit Risk Transfer Trust series 2017-4 issuance is expected to settle Dec. 13. The securities are backed by fixed- and step-rate modified seasoned loans that have been performing for at least 12 months.

The loans are serviced by Nationstar Mortgage LLC, which does business as Mr. Cooper. The offering's co-lead managers and joint book runners are Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. Serving as co-managers are Nomura Securities International Inc., Samuel A. Ramirez & Co. Inc. and Wells Fargo Securities LLC.