Declining multifamily valuations are pushing up capitalization rates while reducing debt service coverage ratios.

Bank of America issued a resecuritization this week tied to a 2017 multifamily K-deal. It’s the first rated issuance of its kind from BofA since 2016. The new resecuritization received an A- rating.

WI certificates are expected to become the primary way for investors to acquire the A-M and A-2 classes of Freddie’s signature K-deals.

With their unguaranteed subordinate tranches, the K-series was the first enterprise security to transfer credit risk to private investors.

When-Issued certificates allow the enterprise to advance fund the guaranteed portions of its signature K-deals. That means Freddie can transfer market risk while pooling collateral for its MBS.

The new K-deals with all-cash collateral will be used to pre-fund K-deal A-M certificates.

Fannie and Freddie offer investors a wide range of summer deals.

The enterprise’s mid-summer transactions give investors a broad range of securities options.

Freddie mixes up its capital offerings with social bonds in support of intellectually and developmentally challenged individuals.