FEDERAL HOME 8.375% NON CUM PERP PRF OTCMKTS: FMCKJ Prices $801 Million Multifamily K-Deal, K-F62


FEDERAL HOME 8.375% NON CUM PERP PRF OTCMKTS: FMCKJ 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 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, 2018, filed with the Securities and Exchange Commission (SEC) on February 14, 2019; 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, 2018, 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.

FEDERAL HOME 8.375% NON CUM PERP PRF OTCMKTS: FMCKJ On May 21, 2019 recently priced a new offering of Structured Pass-Through Certificates (K Certificates) backed by floating-rate multifamily mortgages with ten-year terms. The approximately $801 million in K Certificates (K-F62 Certificates) are expected to settle on or about May 31, 2019.

The K-F62 Certificates will not be rated, and will include one senior principal and interest class, one interest-only class, and one class entitled to static prepayment premiums. The K-F62 Certificates are backed by corresponding classes issued by the FREMF 2019-KF62 Mortgage Trust (KF62 Trust) and guaranteed by Freddie Mac. The KF62 Trust will also issue certificates consisting of the Class B, C and R Certificates, which will be subordinate to the classes backing the K-F62 Certificates and will not be guaranteed by Freddie Mac.

FEDERAL HOME 8.375% NON CUM PERP PRF OTCMKTS: FMCKJ On May 20, 2019 announced that it has named four vice presidents. Geri Borger Urgo is now vice president, production & sales, overseeing the Southeast and Northeast regions. Michael Case is now vice president, multifamily capital markets, overseeing all multifamily loan pricing functions. Catherine Evans is now vice president, Small Balance Loan (SBL) underwriting, overseeing the SBL underwriting team. Amanda Nunnink is now vice president, Multifamily investor relations, leading the team that markets the multifamily securities platform.

“As Freddie Mac Multifamily continues to transform our business and lead into the future, identifying and developing skilled leaders who exemplify our values is essential,” said Debby Jenkins, executive vice president of Freddie Mac Multifamily. “I couldn’t be more pleased to see these four accomplished leaders advance their careers at Freddie Mac. Although each possesses unique abilities, all of them demonstrate the best of our culture — valuing relationships, diverse strengths, excellence in execution and a continual commitment to best-in-class service.”

Geri Borger Urgo, Vice President, Production & Sales
In her newly expanded role, Geri will oversee the production teams in both the Southeast and Northeast regions. Geri will continue reporting to Richard Martinez, vice president, production & sales.

Geri began her career with Freddie Mac Multifamily as an underwriting analyst. She subsequently moved to the production team before leaving Freddie Mac to serve as an investment manager for Bell Partners. She returned to Freddie Mac in 2012 and held various production leadership roles. Most recently as a senior director, Geri led production and sales for the Southeast region and also served as interim director for the Northeast region. She received her Bachelor of Arts from the University of North Carolina at Chapel Hill.