Freddie Mac is issuing another $1 billion of securities backed by apartment loans as part of its "K-Certificates" program.
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The mortgage-backed securities are expected to price on or about June 11 and settle later in the month. In total, 83 rental buildings serve as collateral for the multifamily bonds.
Freddie and Fannie Mae are a key source of liquidity for the apartment market with commercial banks remaining skittish about lending. The K-007 multifamily mortgage-backed security deal is the third K-Certificate deal this year. Freddie plans to issue three more K-Certificate deals this year.
