Asset Management Specialists, a national REO foreclosure-property preservation firm, engaged Distressed Asset Logistics (DAL)...
The story of Barbara Corcoran's rise to becoming a real estate mogul seems like a fairytale, according to Fortune Magazine....
Freddie Mac is offering, for the first time, K-certificates backed exclusively by five-year multifamily mortgages.
The company will offer about $1.1 billion in of its K-501 series of structured pass-through certificates, which will price the week of March 19 and settle on or about April 11.
This is Freddie's fourth K-certificate offering this year.
"We are constantly looking for ways to enhance the scope of our lending and securities platforms in order to appeal to a variety of borrower and investor needs," said Mitch Resnick, co-head of Multifamily Capital Markets for Freddie Mac. "This transaction continues this commitment."
A syndicate of dealers led by Wells Fargo ($40.16 0.055%) and Morgan Stanley ($24.37 -0.33%) will offer the certificates to the market, Freddie said in a statement. The certificates are backed by 50 multifamily mortgages that were recently originated and guaranteed by Freddie Mac.
The tool is part of Freddie's push to increase transparency as the mortgage finance space tries to develop a sound model for bringing investors confidently back into the market.
The K-certificates include two senior principal and interest classes, two senior interest-only classes and a junior interest-only class. Moody's ($66.98 0%) and Morningstar ($69.25 -0.43%) were engaged to rate the four senior classes of K-501 certificates, which, Freddie said, are expected to receive a rating of Aaa(sf) and AAA, respectively, subject to ongoing monitoring.
Don’t miss out: get HW delivered via email