Freddie Mac has settled the offering of its Series K-003 Structured Pass-Through Certificates (K Certificates), multifamily mortgage-backed securities intended to provide liquidity and stability to the nation's multifamily housing market.
‘We're pleased with the positive response from investors and customers to our multifamily securitization efforts," says Mike May, senior vice president of multifamily at Freddie. "Investor response to the offering was strong, and all classes of K Certificates were oversubscribed.’
The transaction enabled the company to reduce its balance-sheet dependence, redeploy its capital and better manage its risk, May adds. David Brickman, vice president of multifamily and CMBS capital markets at Freddie Mac, says he expects the company will expand its securities activities and see a growing volume of multifamily loans coming through its Capital Markets Execution pipeline.
SOURCE: Freddie Mac