McLEAN, VA-Freddie Mac has launched its counterpart to Fannie Mae’s C-Series product—a $1 billion offering of Structured Agency Credit Risk (STACR) debt notes. The STACR offering (pronounced stacker) is one of the largest subordinate mortgage credit securitizations ever brought to market, Freddie Mac says. It also is the GSE’s first STACR deal of the year after introducing the product in 2013.

This makes Freddie Mac’s third STACR deal and the GSE expects to issue them on a regular quarterly basis, Mike Reynolds, director of Portfolio Management at Freddie Mac, tells GlobeSt.com.

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