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Freddie Mac to buy and securitize tax-exempt multifamily housing loans

Learn about Freddie Mac's Class A Multifamily M Certificates and how we securitize tax-exempt affordable housing loans.

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Tax-Exempt Bond Securitization (TEBS) Description: The TEBS structure is a proprietary execution offered by Freddie Mac through which a Sponsor transfers privately placed tax-exempt multifamily housing revenue bonds (and possibly related taxable bonds or loans) to Freddie Mac in exchange for Freddie Mac senior Class-A M Certificates that are sold to investors andSubordinate Class-B M.

KG Series Will Securitize Freddie Mac Multifamily Workforce Housing Green Advantage Loans MCLEAN, Va., June 10, 2019 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today announced it will soon go to market with a new deal designed to meet the needs of investors seeking "green" bonds. The KG-Deals are the environmental and social impact series of Freddie Mac’s flagship K-Deal program.

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of each loan. A Better Freddie Mac, Building a Better Housing Finance System As an industry leader, Freddie Mac constantly works to develop new and better ways to help lenders expand affordable lending and access to credit for qualified borrowers as well as to attract private capital from investors, while minimizing taxpayer risk.

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Freddie Mac typically purchases multifamily loans, holds them temporarily in its mortgage portfolio, and then subsequently packages them in structured securities to distribute the credit risk. As part of the securitizations, Freddie Mac sells multifamily mortgage loans to a third-party who deposits the loans into a third-party trust.

The project is utilizing 4% low-income housing tax credits and both tax-exempt and taxable variable-rate bonds issued by New York state housing finance agency (nyshfa). The $550 million permanent Freddie Mac loan for the 71-story Sky Residences marks the largest single-asset tax-exempt financing completed by Freddie Mac.

Freddie Mac Multifamily now will purchase from its Targeted Affordable Housing (TAH) lender network multifamily tax-exempt loans, and aggregate and securitize them into a new series called M-Deals.

Millennia Housing Development has closed the first deal through Freddie Mac’s new Direct Purchase of Tax-Exempt Loans initiative. Photo: Matthew Solomon/Millennia Housing Development The firm’s $14.3 million acquisition-rehab loan is for The Lakewoods, a 417-unit affordable seniors housing property in Dayton, Ohio.

For tax-exempt bondholders (Sponsors) in the multifamily affordable housing market, we provide liquidity via the efficiencies of our securitization platform.