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Freddie Mac prices $543M multifamily small-balance loan securitization


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Freddie Mac prices $543M multifamily small-balance loan securitization

Freddie Mac priced its SB67 offering, a $543 million multifamily mortgage-backed securitization backed by small-balance loans underwritten by the company and issued by a third-party trust.

The company expects the SB67 certificates to settle on or about Oct. 18.

Freddie Mac is guaranteeing five senior principal-and-interest classes and one interest-only class of securities issued by the FRESB 2019-SB67 Mortgage Trust. It is also acting as mortgage loan seller and master servicer to the trust.

In addition to the six classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of class B and class R certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.

Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are acting as co-lead managers and joint book runners for the offering. CastleOak Securities LP, FTN Financial Capital Markets, Stifel Nicolaus & Co. Inc. and SunTrust Robinson Humphrey Inc. are acting as co-managers.