Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. has closed a $160 million Multifamily Gold PC swap with Column Financial, Inc., a subsidiary of Donaldson People
People whose family name is or was Donaldson include:
DLJ Donaldson, Lufkin & Jenrette Inc.
DLJ Drive Like Jehu (band)
DLJ Defence Laboratory Jodhpur (India)
DLJ Dead Letter Journal ). The $160 million security is backed by 17 multi-family properties owned by Southern Management, one of the largest owner/managers of apartment properties in the U.S.
DLJ repackaged the $160 million Gold PC into a Freddie Mac REMIC security with two classes, tailoring the mortgages' cash-flows to meet investor demand. The REMIC is identified as Series 2171.
"This transaction shows the flexibility of the Multifamily Gold PC and REMIC programs in meeting the needs of a wide range of investors," said H.L. Van Varick Varick can refer to:
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a simple mortgage security swap to provide balance sheet flexibility, or a reconfiguration of cash-flows, Freddie Mac's Negotiated Transactions Group has a product that works, and works fast."
"We had a small window of time in which to complete this transaction, and Freddie Mac was able to meet our tight time schedule and complete this transaction inside of 60 days," said Anand Gajjar, senior vice president at DLJ.
Since the introduction of the Freddie Mac Program Plus network of multifamily loan originators and servicers in 1993, Freddie Mac has provided financing for nearly 5,000 multi-family properties totaling more than $17 billion.