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Freddie Mac is the first of its kind to praise $ 276 million in multi-family structured credit risk notes

Freddie Mac is the first of its kind to praise $ 276 million in multi-family structured credit risk notes

News Highlights: Freddie Mac is the first of its kind to praise $ 276 million in multi-family structured credit risk notes

MCLEAN, Va., Jan. 14, 2021 (GLOBE NEWSWIRE) – Freddie Mac (OTCQB: FMCC) recently priced a new offering of Multifamily Structured Credit Risk (MSCR) Notes, Series 2021-MN1. The MSCR program (pronounced M-SCORE) is designed to transfer some of the credit risk on qualifying multi-family mortgage loans to private investors to cover certain fully guaranteed securities issued by Freddie Mac, thereby increasing the exposure of U.S. taxpayers. mortgage credit risk is reduced. The price of approximately $ 276 million in MSCR Notes was priced on January 12, 2021.

The MSCR Notes are unsecured and unguaranteed mezzanine classes issued by a trust. Freddie Mac has in its entirety the AH class of the senior loss risk and the B-2H class for the first loss in the capital structure, along with some of the risk in the classes M-1, M-2 and B -1 tranches.

โ€œThe growth of our single pass-through structure, multi-family mortgage equity certificates, has created a new opportunity to transfer credit risk,โ€ said Robert.

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