Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Freddie Mac Optigo Program
Freddie Mac Seasoned Loan Pool Credit Enhancement
The Freddie Mac Seasoned Loan Pool Credit Enhancement is one of the Freddie Mac multifamily (Optigo) programs Select Commercial arranges nationwide. Its highlights and terms are below, and you can compare it on our Freddie Mac multifamily page or view today’s commercial mortgage rates.
Get a Free QuoteAbout the Seasoned Loan Pool Credit Enhancement
Eligible Customer: Must be either a small financial institution or community bank that has less than $10 billion in assets
Collateral: Pool must contain small balance multifamily loans and loans secured by apartment buildings with 9% LIHTC. These loans must have been originated at least one year before the transaction closing date
Structure: Freddie Mac offers flexible structure by customizing the level of credit support for each pool
Program Highlights & Terms
- Eligible Customer: Must be either a small financial institution or community bank that has less than $10 billion in assets
- Pool Size: $100 million or greater UPB
- Collateral: Pool must contain small balance multifamily loans and loans secured by apartment buildings with 9% LIHTC. These loans must have been originated at least one year before the transaction closing date
- Structure: Freddie Mac offers flexible structure by customizing the level of credit support for each pool
- First-Loss: Customer must maintain a first-loss position in the loan pool
- Freddie Mac Guarantee: Through this program, Freddie Mac enters into an agreement in which they will accept responsibility for a senior tranche of credit risk of a particular loan pool. While loans must remain on the customers balance sheet, the credit risk is shared between the customer and Freddie Mac
- LTV: Loans below $1,500,000 have allowance of 60% LTV; Loans above $1,500,000 have allowance of 80% LTV
- DSCR: Loans below $1,500,000 must meet DSCR of 1.50x; Loans above $1,500,000 must meet DSCR of 1.20x
- Term: Open to any loan term
- Amortization: 30 years Get Free Fredie Mac Loan Quote
Terms are indicative and set by Freddie Mac underwriting for your specific property.
What Our Clients Say
“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“I found selectcommercial.com and saw they specialized in apartment building loans. In the end, they were by far the best company I have used. Next time I know who to call first.”
Jerry T. · Long Island, NY“As a real estate attorney, I trust that Select Commercial will deliver apartment building loans and commercial mortgages in a timely manner. The rates and terms offered are excellent. I heartily recommend them.”
David S. · New York CityGet Your Freddie Mac Quote
No cost, no obligation. Written answers within 48 hours on multifamily loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up