We are proud to share that Freddie Mac Multifamily has been recognized by GlobalCapital for CMBS Deal of the Year for MSCR® MN11, our first Multifamily Structured Credit Risk® Note to receive an independent rating from the Nationally Recognized Statistical Rating Organization. 

In 2025, Freddie Mac Multifamily was the leading issuer of Multifamily securities, delivering a consistent pipeline throughout the year. These efforts resulted in $68 billion in securities issuance, reinforcing our role in providing liquidity and stability across all market conditions.

Our Multifamily Structured Credit Risk (MSCR Notes) and Multifamily Credit Insurance Pool® (MCIP) Transactions supported our ability to effectively manage and transfer credit risk away from U.S. taxpayers to private investors. This execution path remains essential to transferring credit risk as our Multi PC program and fully guaranteed business becomes the primary form of Freddie Multifamily offerings. In 2025, we issued three MSCR deals (MN10, MN11 and MN12) to capital market investors accompanied by three MCIP policies (MCIP-R10, -R11 and -R12) to reinsurers, totaling $1.7 billion in offered tranches and $42.9 billion of reference obligations. 2025 marked our record issuance year for MSCR Notes and MCIP policies.

This work is made possible by our capital markets community and Optigo® lenders. Thank you for your collaboration and partnership as we strive to fulfill our mission of ensuring liquidity, stability and affordability across all market cycles.