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When-Issued K-Deals®

When-Issued K-Deal® (WI K-Deal) trust certificates are a unique way to align our multifamily loan originations with our investors’ needs by reducing the time it takes to bring securities to market. Through this program, investors have a funded way to purchase K-Deal A-M certificates before K-Deal settlement.

Program Details

  • Sale to Investor: WI K-Deal trust certificates are a funded investment which settles immediately after the WI K-Deal offering period
  • Features: The WI K-Deal trust certificates are tradeable shortly after pricing
  • Term: Less than or equal to 10.25 years for 10-year fixed-rate K-Deals and 7.25 years for 7-year fixed-rate K-Deals
  • Coupon: Fixed rate
  • Size: Approximately sized to the referenced K-Deal A-M

WI K Deal Chart

Sample Program Chart

Benefits

  • Strong credit provided by the Freddie Mac guarantee plus the eventual additional credit support of an underlying multifamily mortgage pool underwritten to Freddie Mac’s portfolio standards post-transfer date
  • Diversification post-transfer date through pooled risk of many assets versus single-asset risk unless otherwise indicated
  • Call protection associated with the prepayment features of yield maintenance during pre-transfer period and defeasance or yield maintenance or static prepayment premiums post transfer date
  • Guarantee of timely payment of class coupons and any yield maintenance amount prior to transfer date, and of timely payment of interest and ultimate payment of principal received on the K-Deal A-M certificates on the guaranteed certificates post transfer date

Disclosures

Find the below items on the Lookup Tools page.

  • K Certificates Security Lookup
  • Historical Factors & Coupons
  • Historical Certificate Reports
  • Offering Circular Supplements & Exhibits

You will need to enter the K-Deal Series Number, e.g., K006. For Factors & Coupons, you will also need to enter the Class ID, e.g., A1.