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Freddie Mac Announces 50th Multifamily Securities Offering Since 2009, Series K-031

Internacional (Marketwired, 05 de Agosto de 2013) Freddie Mac (OTCQB: FMCC) today announced its 50th offering of multifamily mortgage-backed Structured Pass-Through Certificates ("K Certificates") since the program began in 2009. To date, the company has sold more than $60 billion in multifamily mortgages for securitization.

Internacional (Marketwired, 05 de Agosto de 2013) Freddie Mac (OTCQB: FMCC) today announced its 50th offering of multifamily mortgage-backed Structured Pass-Through Certificates ("K Certificates") since the program began in 2009. To date, the company has sold more than $60 billion in multifamily mortgages for securitization."When we introduced our K-Deal offerings in 2009, our goal was to make it a scalable program with regular issuance," said Mitchell Resnick, vice president of Freddie Mac Multifamily Loan Pricing and Securitization. "We've achieved that goal and at the same time reduce credit exposure by transferring the riskiest portion of the structure to private capital markets investors."

Resnick added, "Throughout the program's history, investor demand has been solid, enabling us to become one of the largest U.S. issuers of CMBS. We've steadily increased our securitized loan volume every year from $2 billion in 2009 to $21 billion in 2012, and more than $19 billion so far this year. We look forward to continuing to build the program."

Annual securitized loan volume
2009 – $2.1 billion
2010 – $6.4 billion
2011 – $13.7 billion
2012 – $21.2 billion
2013 – $19.2 billion YTD

K-031 Certificates

With the new offering today, the company expects to issue approximately $1.3 billion in K Certificates (the "K-031 Certificates"), which are expected to price on or about August 8, 2013, and settle on or about August 27, 2013. This is Freddie Mac's thirteenth K Certificate offering this year. 

The K-031 Certificates are backed by 88 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. The K-031 Certificates will be offered to the market by a syndicate of dealers led by Barclays Capital Inc. and J. P. Morgan Securities LLC as co-lead managers and joint bookrunners. CastleOak Securities, L.P., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC will serve as co-managers.

The K-031 Certificates include two senior principal and interest classes, one senior interest only class and one junior interest only class. Moody's Investors Service, Inc. and Morningstar Credit Ratings, LLC are rating the three senior classes of K-031 Certificates, which are each expected to receive a rating of "Aaa(sf)" and "AAA," respectively, subject to ongoing monitoring. 

Freddie Mac is a leading issuer of agency-guaranteed structured multifamily securities. K Certificates feature a wide range of investor options with stable cash flows and a structured credit enhancement. K-Deals include guaranteed senior principal and interest, and interest only classes.

The preliminary offering circular supplement relating to the K-031 Certificates can be found at http://www.freddiemac.com/mbs/data/k031oc.pdf. A Freddie Mac multifamily investor presentation on the K Certificate 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, 2012, filed with the Securities and Exchange Commission ("SEC") on February 28, 2013; 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, 2012, 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. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company's Annual Report on Form 10-K for the year ended December 31, 2012, and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company's Web site at www.FreddieMac.com/investors and the SEC's Web site at www.sec.gov.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com. Twitter: @FreddieMac

FUENTE: MARKETWIRED

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