Freddie Mac · OTC:FMCC
Freddie Mac — Investor Presentation (June 2020)
13 slides from Freddie Mac's investor presentation, Jun 30, 2020
Slide 1: Freddie Mac Multifamily Securitization Seniors Housing
Freddie Mac Multifamily Securitization Seniors Housing As of June 30, 2020
Slide 2: Seniors Housing Business
Seniors Housing Business We focus on A specialty network of Optigo® lenders with extensive experience in the seniors housing market sources assisted living, independent living and memory care assisted living, properties across the United States independent living and Between 1998 and June 2020, Fred
Slide 3: Seniors Housing Property Characteristics
Seniors Housing Property Characteristics Experienced, successful seniors housing operators and owners are prerequisites for Our credit policy Freddie Mac Seniors Housing Loans. Our vast experience and network enables us to and consistent identify and capture transactions with strong operational and
Slide 4: Sourcing Our Business
Sourcing Our Business Freddie Mac Multifamily Seniors Housing team sources its loans from a select group of experienced Optigo lenders ▪ The small size of the network promotes quality originations and a high level of service to lenders and borrowers ▪ Seniors Housing lenders must meet Freddie Mac’s
Slide 5: Our Credit Philosophy
Our Credit Philosophy Our credit policy Freddie Mac makes all credit, structuring and pricing decisions working with our lenders during all aspects of the mortgage production process and consistent underwriting We are focused on: practices are ▪ Sustainable cash flow one of the main drivers of the ▪
Slide 6: Mortgage Guidelines for K-Deals Including Seniors Housing Loans
Mortgage Guidelines for K-Deals® Including Seniors Housing Loans Following are the general guidelines for Freddie Mac’s Seniors Housing offerings1. Please visit our Originate and Underwrite or COVID-19 pages for the latest business updates on our coronavirus response. ▪ Seniors-focused multifamily l
Slide 7: Mortgage Guidelines (continued)
Mortgage Guidelines (continued) ▪ Effective gross income (EGI) is calculated based on trailing three-months actual rent collections or the annualized current rent roll minus a minimum 5% vacancy rate, subject to submarket data and actual rent collections ▪ Operating expenses are generally calculated
Slide 8: Mortgage Guidelines (continued)
Mortgage Guidelines (continued) Loan-to-Value (LTV) Ratios and Amortizing Debt Service Coverage Ratios (DSCR) Seniors Housing – Independent Living Fixed-Rate and Floating-Rate1 LTV/DSCR2 Conventional Maximum LTV /Minimum DSCR Amortizing Partial-Term Interest-Only3 Full-Term Interest-Only ≥ 5-Year an
Slide 9: K-Deal Performance – Seniors Housing
K-Deal Performance – Seniors Housing ▪ Freddie Mac has not realized any credit losses ▪ Four Seniors Housing Loans ($34.7 million) are in special servicing ▪ One loan is REO, one loan is 90+ days delinquent, and two loans are 60-89 days delinquent. ▪ As measured by outstanding principal balances, on
Slide 10: Retained Portfolio Performance – Seniors Housing
Retained Portfolio Performance – Seniors Housing The Freddie Mac Seniors Housing program has historically maintained strong performance throughout various commercial real estate cycles Portfolio – Seniors Housing Performance 1998-2019 Property Type Number of Loans UPB ($ millions) Number of Delinque
Slide 11: K-S13 Transaction Highlights
K-S13 Transaction Highlights Overview of Deal Structure (Pricing Date: November 7th, 2019) Structural Diagram Offered K-S13 Certificates: Spread: WAL: Freddie Mac SPC A $448,200,000 L+66 9.59 Trust, Investors Classes XI $498,000,000 N/A 9.59 Series (including A, XI, & K-S13 Freddie XP $498,000,000 N
Slide 12: through applicable offering circulars and related supplements, which incorporate Freddie Mac’s Annual Report on
This product overview is not an offer to sell or a solicitation of an offer to buy 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 and certain other repor
Slide 13: Multifamily Securitization
MULTIFAMILY SECURITIZATION © Freddie Mac