McLEAN, VA-LikeFannie Mae did earlier this month, FreddieMac is bringing to market a structured offering that isbacked exclusively by floating rate loans. The$1.1 billion offering, part of itsK-Certificates product line, is expected to pricethe week of October 5, 2012. It is the GSE’s thirteenthK-Certificate this year.

These Libor-based loans have all been originated within the lastfew months, Mitch Resnick, vice president ofMultifamily Capital Markets for Freddie Mac, tells GlobeSt.com.Freddie Mac has always had a floating rate program; however demandfor these loans have not been a great as they have been forfixed-rate loans, for obvious reasons. Still, demand does exist--asFannie Mae illustrates as well--and Freddie Mac has now accumulatedenough loans to put out a floating-rate securitization, Resnicksaid. “We are anticipating more offerings as well, depending on howwell received this one is.”

Earlier this month Freddie Mac also brought to marketyet another new flavor of its K-Certificates: aso-called $450 million K-P certificate, which wascomprised of seasoned loans the GSE had on its portfolio. Thesedeals, in a new twist, were fully wrapped.