Replies to post #39682 on Freddie Mac-No Politics (FMCC)

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Freddie Mac Announces Single Sponsor Multifamily K-Deal Backed by Properties Owned by Kayne Anderson

MCLEAN, VA--(Marketwired - Mar 4, 2015) - Freddie Mac (OTCQB: FMCC) today announced a new offering of Structured Pass-Through Certificates ("K Certificates"), which are multifamily mortgage-backed securities. The company expects to issue approximately $734.5 million in K Certificates ("K-KA Certificates"), which are primarily backed by student housing properties owned by funds managed by Kayne Anderson Real Estate Advisors, LLC. The K-KA Certificates are expected to price the week of March 2, 2015, and settle on or about March 18, 2015. This is Freddie Mac's fourth K Certificate offering and its second single sponsor K-deal this year.

The K-KA Certificates are backed by 17 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. The K-KA Certificates will be offered to the market by a syndicate of dealers led by Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC, as co-lead managers and joint bookrunners. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Stern Brothers & Co. will serve as co-managers.
The K-KA Certificates will not be rated and include one senior principal and interest class and one interest only class. The K-KA Certificates are backed by corresponding classes issued by the FREMF 2015-KKA Mortgage Trust ("K-KA Trust") and are guaranteed by Freddie Mac. The K-KA Trust will also issue Class B Certificates, which will be subordinate to the classes backing the K-KA Certificates. The K-KA Trust Class B and R Certificates will not be guaranteed by Freddie Mac.

Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities. K-Deals are part of the company's business strategy to transfer a portion of the risk of losses away from taxpayers and to private investors who purchase the unguaranteed subordinate bonds. K Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.
The preliminary offering circular supplement relating to the K-KA Certificates can be found at http://www.freddiemac.com/mbs/data/kkaoc.pdf.

A Freddie Mac multifamily investor presentation on the K Certificates deal structure and multifamily loan portfolio performance data is available at FreddieMac.com. Freddie Mac also has an online tool for investors and analysts, Multifamily Securities Investor Access. This is a central database that houses all post-securitization data from Investor Reporting Packages to help investors and analysts monitor K-Deal performance.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac's Annual Report on Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Commission (SEC) on February 19, 2015; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2014, excluding any information "furnished" to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information furnished to the SEC on Form 8-K.

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On Wednesday, March 11, Secretary Lew will preside over an executive session of the Financial Stability Oversight Council (Council) at the Treasury Department. The preliminary agenda includes an update on the Council’s 2015 annual report, a discussion of central counterparties (CCPs), and a presentation by the Board of Governors of the Federal Reserve System on the results of the Dodd-Frank Act stress tests (DFAST).*

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Council to convene no less than quarterly, but the Council has historically convened on a more frequent basis. The meetings bring Council members together to discuss and analyze emerging market developments and financial regulatory issues. The Council is committed to conducting its business as openly and transparently as practicable, given the confidential supervisory and sensitive information at the center of its work. Consistent with the Council's transparency policy, the Council opens its meetings to the public whenever possible.

Open session Council meetings are made available to the public via live webcast and also can be viewed after they occur here. Upcoming Council meeting dates and times are posted following the official notification to Council members of an upcoming meeting.

Meeting minutes for the most recent Council meeting are generally approved at the next Council meeting and posted online soon afterwards. Meeting minutes for past Council meetings are available here. Readouts for past Council meetings are available here.

* In accordance with the Council’s Transparency Policy, which is available at www.fsoc.gov, this portion of the meeting will be held in a closed session to prevent the potential disclosure of information contained in or related to investigation, examination, operating, or condition reports prepared by, on behalf of, or for the use of, an agency responsible for the regulation or supervision of financial markets or financial institutions; information which would lead to significant financial speculation, significantly endanger the stability of any financial market or financial institution, or significantly frustrate implementation of a proposed agency action; and inter-agency or intra-agency memoranda or letters which would not otherwise be available by law.
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Last Updated: 3/4/2015 5:58 PM