Freddie Mac Prices Approximately $658 Million Securitization of Re-Performing Loans
Freddie Mac (OTCQB: FMCC) has announced the pricing of its second Seasoned Credit Risk Transfer Trust (SCRT) offering of 2024, a $658 million securitization backed by seasoned re-performing loans (RPLs). The offering includes $625 million in guaranteed senior certificates and $33 million in non-guaranteed mezzanine and subordinate certificates. The transaction, expected to settle on September 13, 2024, involves 3,762 seasoned fixed-, step-, and adjustable-rate RPLs.
This SCRT program is part of Freddie Mac's strategy to reduce less liquid assets and transfer credit and market risk. To date, Freddie Mac has sold over $10.3 billion of Non-Performing Loans and securitized approximately $78.6 billion of RPLs. The underlying loans will be serviced by Newrez , prioritizing borrower retention options and promoting neighborhood stability in case of default.
Freddie Mac (OTCQB: FMCC) ha annunciato la valutazione della sua seconda offerta di Seasonal Credit Risk Transfer Trust (SCRT) per il 2024, una securitizzazione di 658 milioni di dollari supportata da prestiti ri-performing (RPL) consolidati. L'offerta comprende 625 milioni di dollari in certificati senior garantiti e 33 milioni di dollari in certificati mezzanine e subordinati non garantiti. La transazione, prevista per il 13 settembre 2024, coinvolge 3.762 RPL di tipo fisso, step e a tasso variabile.
Questo programma SCRT è parte della strategia di Freddie Mac per ridurre gli attivi meno liquidi e trasferire il rischio di credito e di mercato. Ad oggi, Freddie Mac ha venduto oltre 10,3 miliardi di dollari di prestiti non performanti e ha securitizzato circa 78,6 miliardi di dollari di RPL. I prestiti sottostanti saranno gestiti da Newrez, dando priorità alle opzioni di retention dei mutuatari e promuovendo la stabilità dei quartieri in caso di inadempienza.
Freddie Mac (OTCQB: FMCC) ha anunciado el precio de su segunda oferta de Seasonal Credit Risk Transfer Trust (SCRT) de 2024, una securitización de 658 millones de dólares respaldada por préstamos reintegrados (RPL) consolidados. La oferta incluye 625 millones de dólares en certificados senior garantizados y 33 millones de dólares en certificados subordinados y mezzanine no garantizados. La transacción, que se espera que se liquidará el 13 de septiembre de 2024, involucra 3,762 RPLs de tasa fija, escalonada y ajustable.
Este programa SCRT es parte de la estrategia de Freddie Mac para reducir activos menos líquidos y transferir el riesgo de crédito y de mercado. Hasta la fecha, Freddie Mac ha vendido más de 10.3 mil millones de dólares en préstamos no productivos y ha securitizado aproximadamente 78.6 mil millones de dólares en RPLs. Los préstamos subyacentes serán administrados por Newrez, priorizando las opciones de retención de prestatarios y promoviendo la estabilidad del vecindario en caso de incumplimiento.
프레디 맥(Freddie Mac, OTCQB: FMCC)은 2024년 두 번째 시즌 크레딧 리스크 전환 트러스트(SCRT) 제공의 가격을 발표했습니다. 이는 6억 5800만 달러 규모의 증권화로, 성숙한 재수익 대출(RPL)을 담보로 하고 있습니다. 이 제공에는 6억 2500만 달러의 보장된 선순위 증서와 3천300만 달러의 비보장 중위 및 후순위 증서가 포함되어 있습니다. 이 거래는 2024년 9월 13일에 마무리될 예정이며, 총 3,762개의 성숙한 고정, 단계 및 조정 금리 RPL을 포함합니다.
이 SCRT 프로그램은 프레디 맥의 전략의 일환으로, 유동성이 낮은 자산을 줄이고 신용 및 시장 위험을 이전하기 위해 시행됩니다. 현재까지 프레디 맥은 103억 달러 이상의 비수익 대출을 판매하였고, 약 786억 달러의 RPL을 증권화하였습니다. 해당 대출은 Newrez에 의해 관리되며, 차입자 유지를 우선시하고 기본적인 동네의 안정성을 증진하기 위한 조치를 취할 것입니다.
Freddie Mac (OTCQB: FMCC) a annoncé le prix de sa deuxième offre de Seasonal Credit Risk Transfer Trust (SCRT) pour 2024, une sécu-risation de 658 millions de dollars soutenue par des prêts réinscrits (RPL) consolidés. L'offre comprend 625 millions de dollars de certificats seniors garantis et 33 millions de dollars de certificats mezzanine et subordonnés non garantis. La transaction, qui devrait être réglée le 13 septembre 2024, implique 3 762 RPL à taux fixe, par étapes et à taux variable.
Ce programme SCRT s'inscrit dans la stratégie de Freddie Mac pour réduire les actifs moins liquides et transférer le risque de crédit et de marché. À ce jour, Freddie Mac a vendu plus de 10,3 milliards de dollars de prêts non performants et a titrisé environ 78,6 milliards de dollars de RPL. Les prêts sous-jacents seront gérés par Newrez, en mettant l'accent sur les options de rétention des emprunteurs et en favorisant la stabilité des quartiers en cas de défaut.
Freddie Mac (OTCQB: FMCC) hat die Preisgestaltung seines zweiten Seasonal Credit Risk Transfer Trust (SCRT) Angebots für 2024 angekündigt, einer securitization in Höhe von 658 Millionen US-Dollar, die durch re-performing Loans (RPLs) abgesichert ist. Das Angebot umfasst 625 Millionen US-Dollar an garantierten Seniorzertifikaten und 33 Millionen US-Dollar an nicht garantierten Mezzanine- und nachrangigen Zertifikaten. Die Transaktion, die voraussichtlich am 13. September 2024 abgeschlossen wird, umfasst 3.762 re-performing festverzinsliche, gestaffelte und variabel verzinsliche RPLs.
Dieses SCRT-Programm ist Teil von Freddie Macs Strategie, weniger liquide Vermögenswerte abzubauen und Kredit- sowie Marktrisiken zu übertragen. Bis heute hat Freddie Mac über 10,3 Milliarden US-Dollar an notleidenden Krediten verkauft und etwa 78,6 Milliarden US-Dollar an RPLs securitisiert. Die zugrundeliegenden Kredite werden von Newrez verwaltet, wobei die Beibehaltung von Kreditnehmern priorisiert und die Stabilität in den Nachbarschaften im Falle eines Ausfalls gefördert wird.
- Securitization of $658 million in re-performing loans, reducing less liquid assets
- Sale of $625 million in guaranteed senior certificates
- All underlying mortgage loans are current as of the Cut-Off Date
- To date, Freddie Mac has securitized approximately $78.6 billion of RPLs
- None.
MCLEAN, Va., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today the pricing of its second Seasoned Credit Risk Transfer Trust (SCRT) offering of 2024—a securitization of approximately
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2024-2 includes approximately
The Mortgage Loans will be serviced by Newrez LLC, d/b/a/ Shellpoint Mortgage Servicing and will be serviced in accordance with requirements that, in the event of default, prioritize borrower retention options and promote neighborhood stability.
Advisors to this transaction are Wells Fargo Securities, LLC and Citigroup Global Markets Inc., as co-lead managers and joint bookrunners, and Oppenheimer & Co. Inc. and R. Seelaus & Co., LLC (a woman-owned business), as co-managers.
To date, Freddie Mac has sold over
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, 2023, filed with the Securities and Exchange Commission (SEC) on February 14, 2024; 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, 2023, 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.
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 company’s control. Management’s expectations for the company’s future 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 and other forward-looking statements. These assumptions, judgments, estimates and factors are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2023, and its reports on Form 10-Q and Form 8-K, which are available on the Investor Relations page of the company’s website at www.FreddieMac.com/investors and the SEC’s website at www.sec.gov. The company undertakes no obligation to update 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 that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com
FAQ
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