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Freddie Rolls Out Mezzanine Program March 05, 2010 06:33 PM

Freddie Mac is launching a program through which it will join forces with a handful of mezzanine lenders to expand its multifamily mortgage origination program. The lenders make mezzanine loans on mortgages originated by Freddie Mac that are earmarked for securitization and will also acquire b-pieces from new Freddie Mac CMBS deals. The program aims to help borrowers grapple with mortgage maturities. "There is a market need for this," said Patricia Boerger, a spokeswoman for the agency. "It is part of our mission to keep the market liquid and capital flowing."
Here's how it works. Freddie Mac will originate a lower-leverage senior ...

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