Freddie Mac Debuts $455M K-Deal With 12-20-year Terms
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Freddie Mac headquarters
McLEAN, VA—Another month, another K-deal offering fromFreddie Mac. This one, though, is different from the plain vanilla model. These K Certificates are backed exclusively by fixed-rate multifamily mortgages of 12-, 15- and 20-year terms.
It is the GSE’s 13th K Certificates offering for 2015.
For this transaction, it expects to issue $455 million in K Certificates that will settle on or about July 22.
The offering is a reflection of the GSE’s desire to develop products and paper that appeal to a wide variety of borrowers and investors, Mitchell Resnick, vice president of Freddie Mac Multifamily Capital Markets, says in a prepared statement…
