Freddie Mac has priced a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust.
Freddie Mac expects to guarantee approximately $483 million in multifamily SB certificates which are expected to settle on or about Oct. 23.
Freddie Mac Small Balance Loans generally range from $1 million to $6 million and are backed by properties with five or more units.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are acting as co-lead managers for the offering. Amherst Pierpont Securities LLC, FTN Financial Capital Markets, Multi-Bank Securities Inc. and Stifel Nicolaus & Co. Inc. are acting as co-managers for the offering.
Arbor Agency Lending LLC has originated 182 mortgages.