McLEAN, VA-Freddie Mac is bringing to market its ninth K Certificates for the year—a $1.1 billion offering that is backed by fixed-rate multifamily mortgages with seven-year terms. The agency is pricing the K Certificates beginning this week and expects to settle on or about July 26, 2012. Freddie Mac was unable to return a call to in time for publication.

The K-710 Certificates are backed by 55 recently originated multifamily mortgages guaranteed by Freddie Mac. They include two senior principal and interest classes, a senior interest-only class and a junior interest-only class. In general, the typical structure for Freddie Mac’s K-deals includes K guaranteed senior and interest-only classes, with the related underlying private-label trust consisting of unguaranteed mezzanine, subordinate and interest only bonds.

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