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MCLEAN, Va., Oct. 05, 2021 (GLOBE NEWSWIRE) – Freddie Mac (OTCQB: FMCC) today announced the pricing of the third Seasoned Credit Risk Transfer Trust (SCRT) offering of 2021 – a securitization of approximately $ 564 million dollars, including both senior and unsecured subordinated securities backed by a pool of seasoned reproductive loans (RPLs). The LSVCC securitization program is a fundamental part of Freddie Mac’s seasoned loan offerings that reduce less liquid assets in its mortgage-related investment portfolio and eliminate credit and market risk through economically reasonable transactions.
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2021-3 consists of approximately $ 522 million of senior guaranteed certificates and approximately $ 42 million of unsecured mezzanine and subordinated certificates. Mezzanine certificates will be noted. The transaction is expected to settle on October 14, 2021. The underlying collateral consists of 3,738 fixed, progressive and variable rate RPL, never modified and modified, which have been modified to help borrowers at risk of foreclosure to help them keep Their houses. In accordance with the criteria of the SCRT program, by the deadline, all mortgages were performing and have not been in arrears for at least six months using the MBA calculation method.
The loans are managed by NewRez LLC, d / b / a Shellpoint Mortgage Servicing and Community Loan Servicing, LLC and will be managed in accordance with conditions than in the event of default, favor borrower retention options and promote neighborhood stability.
Advisors to this transaction are Wells Fargo Securities, LLC and JP Morgan Securities LLC, as co-lead managers and associate bookkeepers, and Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., BofA Securities, Inc, StoneX Financial Inc., and Loop Capital Markets LLC as co-managers.
To date, Freddie Mac has sold over $ 8 billion in non-performing loans (NPLs) and securitized over $ 73 billion in RPLs, including $ 30 billion in fully secured PCs, $ 32 billion in senior / under SCRT and over $ 11 billion Structured Loan Transaction Offerings (SLST). Additional information on the company’s seasoned loan offerings can be found at:http://www.freddiemac.com/seasonedloanofferings/
This announcement does not constitute an offer to sell any Freddie Mac securities. Offers for any given security are only made through the applicable offering circulars and related supplements, which incorporate Freddie Mac’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission (SEC) on February 11. 2021; all other reports filed by Freddie Mac with the SEC pursuant to Section 13 (a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2020, excluding any information “provided” to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC in accordance with Sections 13 (a), 13 (c) or 14 of the Exchange Act, excluding any information “provided” to the SEC on Form 8- K.
Freddie Mac’s press releases sometimes contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the control of the company. Management’s expectations for the future of the Company necessarily involve a number of assumptions, judgments and estimates, and various factors could cause actual results to differ materially from the expectations expressed in these forward-looking statements and ‘others. These assumptions, judgments, estimates and factors are discussed in the company’s annual report on Form 10-K for the year ended December 31, 2020, and its reports on Forms 10-Q and 8-K, which are available. on the Investor Relations website. company website page at www.FreddieMac.com/investisseurs and the SEC website at www.sec.gov. The company makes no commitment to update any forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release.
The financial and other information contained in the documents accessible on this page are only valid as of the date of these documents. The information could be out of date and no longer accurate. Freddie Mac assumes no obligation, and disclaims any duty, to update the information contained in these documents.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our inception by Congress in 1970, we’ve made housing more accessible and affordable for buyers and renters in communities across the country. We are building a better housing finance system for buyers, tenants, lenders and taxpayers. Learn more about FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
MEDIA CONTACT: Fred Solomon 703-903-3861[email protected]
Source: Freddie Mac