Freddie Mac To Bring Tax-Exempt Loan CMBS Product to Municipal Investors
Freddie Mac (OTCQB: FMCC) announced a new CUSIP registration capability for its ML-Deal offerings, allowing investors to choose between Mortgage or Municipal CUSIP identifiers and exchange certificates between the two through approved Broker Dealers. The initiative aims to increase liquidity in both CMBS and municipal markets while supporting affordable housing. Starting with ML-27, expected to launch December 9th with approximately $250 million in Sustainability Bonds, the program will offer two sets of Structured Pass-Through Certificates. The ML program, launched in 2017, enables investment in tax-exempt securities backed by loans on affordable housing properties receiving 4% low-income housing tax credits.
Freddie Mac (OTCQB: FMCC) ha annunciato una nuova capacità di registrazione CUSIP per le sue offerte ML-Deal, permettendo agli investitori di scegliere tra identificatori CUSIP per mutui o municipali e di scambiare certificati tra i due attraverso Broker Dealers approvati. L'iniziativa mira ad aumentare la liquidità sia nei mercati CMBS che municipali, sostenendo nel contempo l'abitazione accessibile. Partendo con ML-27, previsto il lancio il 9 dicembre con circa $250 milioni in Sustainability Bonds, il programma offrirà due set di Certificati Pass-Through Strutturati. Il programma ML, lanciato nel 2017, consente l'investimento in titoli esenti da tasse supportati da prestiti su proprietà di abitazioni a prezzi accessibili che ricevono crediti d'imposta per l'alloggio a basso reddito del 4%.
Freddie Mac (OTCQB: FMCC) anunció una nueva capacidad de registro CUSIP para sus ofertas ML-Deal, permitiendo a los inversores elegir entre identificadores CUSIP hipotecarios o municipales y canjear certificados entre los dos a través de agentes de bolsa aprobados. La iniciativa busca aumentar la liquidez tanto en los mercados de CMBS como en los municipales, al tiempo que apoya la vivienda asequible. Comenzando con ML-27, que se espera lanzar el 9 de diciembre con aproximadamente $250 millones en Bonos de Sostenibilidad, el programa ofrecerá dos conjuntos de Certificados de Pasaje Estructurado. El programa ML, lanzado en 2017, permite la inversión en valores exentos de impuestos respaldados por préstamos en propiedades de vivienda asequible que reciben créditos fiscales del 4% para vivienda de bajos ingresos.
프레디 맥 (OTCQB: FMCC)은 투자자들이 주택담보대출 또는 지방정부 CUSIP 식별자를 선택하고 승인된 브로커 딜러를 통해 두 가지 간증증을 교환할 수 있도록 ML-Deal 제공을 위한 새로운 CUSIP 등록 기능을 발표했습니다. 이 이니셔티브는 CMBS 및 지방 시장 모두에서 유동성을 늘리고 저렴한 주택을 지원하는 것을 목표로 하고 있습니다. ML-27에서 시작해, 12월 9일에 약 $250 million의 지속 가능성 채권과 함께 출시될 예정이다. 이 프로그램은 두 세트의 구조화 통과 증서를 제공할 것입니다. 2017년에 출범한 ML 프로그램은 저소득 주택 세금 공제를 받는 저렴한 주택 자산에 대한 대출로 지원되는 면세 증권에 대한 투자를 가능하게 합니다.
Freddie Mac (OTCQB: FMCC) a annoncé une nouvelle fonctionnalité d'enregistrement CUSIP pour ses offres ML-Deal, permettant aux investisseurs de choisir entre des identifiants CUSIP hypothécaires ou municipaux et d'échanger des certificats entre les deux via des courtiers agréés. Cette initiative vise à accroître la liquidité sur les marchés CMBS et municipaux tout en soutenant le logement abordable. À partir de ML-27, prévu pour être lancé le 9 décembre avec environ $250 millions en obligations de durabilité, le programme proposera deux ensembles de certificats pass-through structurés. Le programme ML, lancé en 2017, permet d'investir dans des titres exonérés d'impôt soutenus par des prêts sur des propriétés de logement abordables recevant des crédits d'impôt pour le logement à faible revenu de 4 %.
Freddie Mac (OTCQB: FMCC) hat eine neue CUSIP-Registrierungsfunktion für seine ML-Deal-Angebote angekündigt, die es Investoren ermöglicht, zwischen Hypotheken- oder Kommunal-CUSIP-Identifikatoren zu wählen und Zertifikate zwischen den beiden über genehmigte Broker-Dealer auszutauschen. Die Initiative zielt darauf ab, die Liquidität sowohl in den CMBS- als auch in den Kommunalfinanzierungsmarkt zu erhöhen, während sie gleichzeitig bezahlbaren Wohnraum unterstützt. Beginnend mit ML-27, das voraussichtlich am 9. Dezember mit rund $250 Millionen in Nachhaltigkeitsanleihen auf den Markt kommen soll, wird das Programm zwei Sätze strukturierter Durchleitungszertifikate anbieten. Das 2017 gestartete ML-Programm ermöglicht Investitionen in steuerbefreite Wertpapiere, die durch Darlehen für erschwingliche Wohnimmobilien abgesichert sind, die 4% niedrigere Wohneinheitssteuergutschriften erhalten.
- New CUSIP registration capability expected to increase market liquidity
- ML-27 issuance of approximately $250 million in Sustainability Bonds
- 90% of eligible rental units funded are affordable to low-to-moderate income families
- 90% of multifamily loans are securitized, transferring credit risk from taxpayers to private investors
- None.
New Approach Will Increase Liquidity in CMBS and Municipal Markets and Support Affordable Multifamily Housing
MCLEAN, Va., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today announced a new CUSIP registration capability to better align its ML-Deal offerings for both commercial mortgage-backed securities and municipal bond investors, increasing liquidity across both markets and advancing Freddie Mac’s mission.
The new CUSIP registration capability will allow investors to choose their preferred CUSIP identifier, Mortgage or Municipal, at deal settlement and subsequently exchange their certificates between either of the two CUSIPs through a Freddie Mac approved Broker Dealer.
“This new registration capability streamlines our product to both mortgage and municipal bond investors, which is important to meet market needs and deliver on Freddie Mac’s mission to support affordability, liquidity and stability in the multifamily housing market,” said Robert Koontz, SVP of Multifamily Capital Markets at Freddie Mac. “We look forward to continuing to innovate and advance our offerings to respond to market changes while keeping a clear focus on our mission.”
Since 2017, Freddie Mac’s ML program has provided the opportunity for investors to invest in predominantly tax-exempt securities secured by loans on completed, occupied, and stabilized affordable housing properties. ML-Deals are backed by tax-exempt loans related to properties receiving new-issue
This feature will start with ML-27 and is anticipated to be available for all future ML Deals. ML-27 is expected to go to market the week of December 9th with an issuance size of approximately
ML-Deals with this feature will include two sets of Structured Pass-Through Certificates (SPCs), one registered under Freddie Mac’s corporate issuer 144A CUSIP identifier and another registered under municipal issuer 144A CUSIP identifier. The underlying loan characteristics and structure for both will be identical. Although the underlying loans are obligations of various state and local entities, the state and local governmental entities are not directly obligated on the SPCs and do not issue the SPCs. Accordingly, the SPCs are not municipal securities as defined in Section (a)(29) of the Securities Exchange Act of 1934 and Freddie Mac is not a municipal issuer.
Click here to learn more about Freddie Mac ML Certificates. M-Deals and ML-Deals (freddiemac.com)
Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, more than
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 | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Melissa Silverman
703-388-7037
Melissa_Silverman@FreddieMac.com
FAQ
What is Freddie Mac's new CUSIP registration capability for ML-Deals?
When will Freddie Mac (FMCC) launch ML-27 and what is its expected size?
What percentage of Freddie Mac's multifamily loans are securitized?
What is the purpose of Freddie Mac's ML program launched in 2017?
