Freddie Mac is not providing interviews or discussing thependingprogram in detail because it hasn't been finalized yet, aspokeswomantells However, she did say that the mezzfinancing wouldbe provided by a third party and that Freddie Macwould work withseveral mezz lenders for the program.


The news was first reported in, which also said that the programcould be used to by the lenders to acquire B pieces from newFreddie Mac CMBS. According to Nasdaq, Freddie Mac will originatelower-leverage senior debt and then work with one of the mezzlenders in the program to provide additional leverage, up to85%.


Freddie Mac's David Brickman, VP of multifamily capital marketsandCMBS gave a hint of what was coming in aninterviewconducted in mid-January. The GSE plans to broaden anddeepen its capabilities where possible,he told Forexample, it is looking to introducefully-guaranteed securities toaccommodate financing needs of moreborrowers--such as deals thatare difficult to sell because they aremore highly structured. "Ingeneral we are moving more fully to asecuritization model where thevast majority of assets are purchasedand securitized."

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