Freddie Mac has priced a $1.8 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 2018-1 issuance is expected to settle March 14 and issue about $1.6 billion in guaranteed senior certificates, as well as about $183 million in unguaranteed mezzanine and subordinate certificates.
The collateral backing the certificates is a group of 10,983 fixed- and step-rate modified seasoned re-performing loans.
The loans are serviced by Specialized Loan Servicing LLC. Merrill Lynch Pierce Fenner & Smith and Citigroup Global Markets Inc. are co-lead managers and joint book runners. Nomura Securities International Inc., Samuel A. Ramirez & Co. Inc. and Wells Fargo Securities LLC are the co-managers.
