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Freddie Mac launches $1.4B seasoned loans structured transaction

Freddie Mac launched its third seasoned loans structured transaction offering for 2019, backed by a pool of about $1.4 billion seasoned re-performing loans.

The program helps to reduce less-liquid assets in Freddie Mac's mortgage-related investments portfolio and shed credit and market risk via economically reasonable transactions. The loan pool is composed of loans that were modified to help borrowers at risk of foreclosure keep their homes.

BofA Securities Inc. and Nomura Securities International Inc. are the co-lead managers and joint book runners for the offering. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC and Mischler Financial Group Inc. are the co-managers.