Freddie Mac priced a multifamily mortgage-backed securitization backed by small-balance loans, issued by a third-party trust and underwritten by the company.
The company expects to guarantee about $290 million in multifamily small-balance certificates, which are anticipated to settle on or about June 19. Freddie Mac is guaranteeing four senior principal and interest classes and an interest-only class of securities issued by the FRESB 2017-SB32 Mortgage Trust and is acting as mortgage loan seller and master servicer to the trust.
The trust will issue certificates consisting of the class B and R certificates in addition to the five classes of securities guaranteed by Freddie Mac.
Wells Fargo Securities LLC is the sole lead manager and book runner. Amherst Pierpont Securities LLC, FTN Financial Capital Markets, J.P. Morgan Securities LLC and Samuel A. Ramirez & Co. Inc. are the co-managers.