Freddie Mac Receives CMBS Special Servicer Rating From Fitch
MCLEAN, Va., Nov. 13, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today received an initial commercial mortgage-backed securities (CMBS) special servicer rating of 'CSS2-' from Fitch Ratings. The rating reflects the ability of the Freddie Mac Multifamily business to work out loans backed by apartment buildings with five or more units and acquired from its Seller/Servicers network.
In its press release Fitch stated: "Freddie Mac's commercial servicer special servicer rating reflects Fitch's assessment of Freddie Mac's management team, asset management capabilities, technology, financial strength and knowledge of the multifamily lending environment combined with the support of its seller/servicer network... the asset management and operations group has extensive multifamily workout experience across the United States."
News Facts
- Freddie Mac is currently the special servicer for approx. 8,800 loans totaling $94.4 billion and held in its Multifamily portfolio as of September 30, 2012.
- Freddie Mac currently is not the special servicer on securitized multifamily mortgages, except K-Deals in its P Series, which are fully wrapped by Freddie Mac and backed by seasoned assets.
- Additional details are in the Fitch Ratings press release.
Quotes
Attribute to Michael Lipson, senior vice president of Multifamily Asset Management and Operations for Freddie Mac.- "The rating is a critical part of maintaining credibility in the market. It demonstrates the financial, operational and staff strength as well as our credit capabilities."
- "We have a good track record of working with all types and sizes of loans to service nonperforming loans."
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
