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Freddie Mac Prices $460.4 Million Multifamily K-Deal, K-L01 …

MCLEAN, VA, May 26, 2017 (Marketwired via COMTEX) — New Offering is Latest Innovation in Flagship Credit-Risk Transfer Program

MCLEAN, VA–(Marketwired – May 26, 2017) –  Freddie Mac (otcqb:FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. Announced today, the K-L series of certificates are backed by large loans on multifamily properties. 

The company expects to issue approximately $460.4 million in K Certificates (K-L01 Certificates), which are backed by two large properties located in New York, New York and Irvine, California. The K-L01 Certificates are expected to settle on or about June 6, 2017. 

“KL is the latest series under the K-Deal program featuring large loans and demonstrates the continued effort in developing the most efficient securitizations for distributing risk while supporting liquidity in the multifamily market,” said Robert Koontz, vice president of Multifamily Capital Markets.

K-L01 Pricing

Class Principal/   Weighted Average Life (Years) Spread (bps) Coupon   Yield   Dollar Price Notional Amount (mm) A-1E $24,872.000   7.34 S + 60 2.8350%   2.6714%   $100.9957 A-2E $217,000.000   9.72 S + 72 3.2880%   2.9251%   $103.0000 XEX $241,872.000   9.48 Non-Offered A-1P $48,948.000   4.46 S + 43 2.5440%   2.2751%   $100.9982 A-2P $169,585.000   8.39 S + 66 2.7000%   2.7929%   $99.2457 XPK $218,533.000   7.51 Non-Offered 


Lead Manager and Sole Bookrunner: J.P. Morgan Securities LLC

Co-Managers: Academy Securities Inc.; Barclays Capital Inc.; Jefferies LLC; and PNC Capital Markets LLC

Related Links

The K-L01 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/kl01oc.pdf

Freddie Mac Multifamily Investor Presentation

Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages

The K-L01 Certificates will not be rated, and will include four senior principal and interest classes and two interest-only classes. The K-L01 Certificates are backed by corresponding classes issued by FREMF 2017-KL01 Mortgage Trust (K-L01 Trust) and guaranteed by Freddie Mac. The K-L01 Trust will also issue certificates consisting of Class B-E, class B-P and class R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-L01 Certificates.

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.

This announcement is not an offer to sell any securities of Freddie Mac or any other issuer. 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, 2016, filed with the Securities and Exchange Commission (SEC) on February 16, 2017; 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, 2016, 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, 2016, 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 makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT: Christopher Spina 703-388-7031 Christopher_Spina@FreddieMac.com INVESTOR CONTACTS: Robert Koontz 571-382-4082 Aaron Dunn 571-382-5818

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Skagitonian makes cover of Realtor Magazine

Realtor Dominic Pettruzzelli, 29, pictured in front of one of his listings, was featured in the “30 Under 30” issue of Realtor Magazine.

Silicon Valley Realtors take homeownership concerns to the Capitol

Realtor leadership from around the country converged on Washington, D.C. last week for the National Association of Realtors annual legislative meetings, advocating on behalf of home ownership and private property rights. The delegation from the Silicon Valley Association of Realtors met with U.S. Representatives Anna Eshoo, Jackie Speier, and Ro Khanna.

The Realtors covered a breadth of issues at these small group meetings, including tax reform, flood insurance, and the preservation of sustainable home ownership. On tax reform, Realtors urged members of U.S. Congress to preserve the incentives for home ownership in the new tax plan. Though no tax reform legislation has been introduced in Congress yet, realtors are concerned about proposals being discussed.

Under proposals that limit the mortgage interest deduction and repeal property and local tax deductions, homeowners earning between $50,000 and $200,000 would see their taxes increase, whereas non-homeowners would see tax cuts of $516.

“We’re concerned that any proposal that limits the tax incentives for home ownership would dramatically reduce the value of existing homes and lead to a decline in net worth for many, especially seniors,” Denise Welsh, president of the Silicon Valley Realtors group, told the members of Congress.

The leadership from the local realtor group also advocated for a multiyear re-authorization of the National Flood Insurance Program. Authority for the program expires on Sept. 30. If the program were to lapse, then the NFIP would not be able to renew policies in 22,000 communities and an estimated 40,000 property sales per month would lapse. Realtors are concerned the private sector cannot guarantee access to affordable flood insurance to the five million program policy holders.

The association has also put together a package of bills entitled “Protecting Sustainable Home ownership.” Under this header is a bill to extend consumer disclosures to Property Assessed Clean Energy companies. PACE loans are spreading in this region. Borrowers pay back debt borrowed to make environmental upgrades through their tax bill. These programs have been rife with abuse from contractors overselling what is needed, lack good disclosures to the borrowers, and have prepayment penalties. Lenders are also refusing to loan to homes with a PACE lien.

Included in this category is the Realtor proposal that guaranteed fees charged in government-backed loans be directed towards programs that support home ownership for the middle class, instead of using the funds for other government spending projects.

Realtors also oppose any suggestion to eliminate government-sponsored enterprises Fannie Mae and Freddie Mac. “We believe Fannie and Freddie should be reformed and not be under conservatorship. Without the ability to sell mortgages on the secondary market, the 30-year fixed mortgage would be eliminated for all but the wealthy,” explained Welsh.

Joining Welsh at the meetings with members of Congress were Bill Moody, the local Realtor association’s president-elect; Christ Isaacson, region 9 chair; Carole Feldstein, Eshoo’s federal political coordinator; Leannah Hunt, NAR director; and leadership from neighboring Realtor associations.

Placester and the National Association of Realtors(R) Launch Free Real Estate Websites to More Than 1.2 Million …

WASHINGTON, DC–(Marketwired – May 25, 2017) – Last year, Realtors® spent a median of $70 to maintain a website. To help reduce those business costs, real estate website and marketing platform Placester is extending its partnership with the National Association of Realtors® to bring a basic “NAR Edition” website to the association’s 1.2 million members at no charge. NAR members will also receive discounts on advanced website features and products.

Placester, an all-in-one business platform, provides industry-leading sales and marketing solutions for real estate professionals, including lead-capturing websites, client management tools, marketing automation and analytics, and an online academy featuring an extensive library of educational resources. Placester’s exclusive websites and discounts for NAR Members are made possible through NAR’s Realtor Benefits® Program.

“With nine in 10 homebuyers citing websites as their most useful source of information, Placester and NAR recognize that in order to succeed, agents need an online foundation that promotes their brand and provides value to the consumer,” said Matt Barba, CEO, Placester. “This partnership will enable every Realtor® to build an online presence that they control. Placester’s mission is to help each and every real estate professional with the online business tools to compete effectively online as well as face-to-face,” Barba said.

With Placester’s exclusive NAR Edition websites, NAR members receive a responsive website for both web and mobile that includes IDX listing integration capability, a mortgage calculator, editable page templates, a homepage with customizable image slideshow, social media integration, the ability to add branding, and more — all for no charge.

In addition to Placester’s free edition for NAR members, Realtors® will also receive discounts on advanced site features and products, including single property websites, broker websites, and Placester’s advanced Essential, Premium, and Premium PLUS bundles, which include integrated lead management, drip marketing tools, and more.

“As technology changes the way consumers approach buying and selling homes, Realtors® are seeing an increasing online demand for in-depth property and neighborhood information,” said Bob Goldberg, NAR senior vice president, Marketing and Business Development. “This expanded partnership with Placester means that every NAR member can create an effective and professional website for free for running and growing their business.”

Built on the foundation of affordable and well-designed agent websites, Placester powers the businesses of more than 400,000 real estate professionals with solutions for CRM and drip email marketing, along with data-driven insights, mobile applications, and marketing services. This includes agents in 95 percent of U.S.-based real estate brands, as well as independent brokerages. For more information on Placester’s exclusive NAR Edition, visit https://placester.com/nar/.

About Placester

Placester is an all-in-one business platform for real estate professionals with beautiful lead capturing websites, lead management, email marketing, marketing automation, analytics, free education and 24/7 support. Founded in 2011 by Matthew Barba, a former real estate agent, and Frederick Townes, a seasoned technologist, the Placester platform enables real estate professionals to grow their businesses online and via mobile through seamless MLS integration, natural language search and eye-catching visuals. In addition, Placester offers a wide range of apps and add-ons for high-impact email marketing, digital advertising campaigns, lead management and streamlining of everyday tasks.

Currently serving two in five real estate professionals in the U.S., Placester is a proud technology partner to leading real estate brands across North America, and the sole website provider for the Realtor Benefits® Program, the official member benefits program of the National Association of Realtors®. To date, Placester has raised $100 million in funding, backed by New Enterprise Associates (NEA), Romulus Capital and Techstars. For more information, please visit placester.com.

About the National Association of Realtors®

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

The Realtor Benefits® Program is the association’s official member benefits program, connecting members with savings and unique offers on products and services just for Realtors® from more than 30 companies recognized as leaders in their respective industries.

Fannie Mae Announces Third Front-End Credit Insurance Risk …

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