Distribution Date:

08/15/25

Benchmark 2025-V14 Mortgage Trust

Determination Date:

08/11/25

 

Next Distribution Date:

09/17/25

 

Record Date:

07/31/25

Commercial Mortgage Pass-Through Certificates

 

 

Series 2025-V14

 

           

Table of Contents

 

 

Contacts

 

 

 

Section

Pages

Role

Party and Contact Information

 

 

 

Certificate Distribution Detail

2

Depositor

Deutsche Mortgage & Asset Receiving Corporation

 

 

 

Certificate Factor Detail

3

 

Attention: Lainie Kaye

 

cmbs.requests@db.com

 

Certificate Interest Reconciliation Detail

4

 

1 Columbus Circle | New York, NY 10019 | United States

 

 

 

 

Certificate Administrator

Computershare Trust Company, N.A.

 

 

Additional Information

5

 

 

 

 

 

 

 

Corporate Trust Services (CMBS)

 

cctcmbsbondadmin@computershare.com;

Bond / Collateral Reconciliation - Cash Flows

6

 

 

 

trustadministrationgroup@computershare.com

 

Bond / Collateral Reconciliation - Balances

7

 

9062 Old Annapolis Road | Columbia, MD 21045 | United States

 

 

 

Current Mortgage Loan and Property Stratification

8-12

Master Servicer

Midland Loan Services, a Division of PNC Bank, N.A.

 

 

 

Mortgage Loan Detail (Part 1)

13-14

 

Attention: Executive Vice President – Division Head

(913) 253-9000

NoticeAdmin@midlandls.com

 

 

 

10851 Mastin Street, Building 82, Suite 300 | Overland Park, KS 66210 | United States

 

Mortgage Loan Detail (Part 2)

15-16

 

 

 

 

 

 

Special Servicer

Greystone Servicing Company LLC

 

 

Principal Prepayment Detail

17

 

 

 

 

 

 

 

Lindsey Wright, Vice-President - Special Servicing

(972) 868-5329

 

 

Historical Detail

18

 

5221 N. O'Connor Blvd., Suite 800 | Irving, TX 75039 | United States

 

 

Delinquency Loan Detail

19

Operating Advisor & Asset

Park Bridge Lender Services LLC

 

 

 

Collateral Stratification and Historical Detail

20

Representations Reviewer

 

 

 

 

 

 

Surveillance Manager

 

cmbs.notices@parkbridgefinancial.com

Specially Serviced Loan Detail - Part 1

21

 

 

 

 

 

 

 

600 Third Avenue, 40th Floor | New York, NY 10016 | United States

 

 

Specially Serviced Loan Detail - Part 2

22

 

 

 

 

 

 

Trustee

Computershare Trust Company, N.A.

 

 

 

Modified Loan Detail

23

 

Corporate Trust Services (CMBS)

 

cctcmbsbondadmin@computershare.com;

Historical Liquidated Loan Detail

24

 

 

 

trustadministrationgroup@computershare.com

 

 

 

9062 Old Annapolis Road | Columbia, MD 21045 | United States

 

 

Historical Bond / Collateral Loss Reconciliation Detail

25

 

 

 

 

 

 

Directing Holder

400 Capital Management LLC

 

 

Interest Shortfall Detail - Collateral Level

26

 

 

 

 

 

 

 

-

 

 

Supplemental Notes

27

 

 

 

 

 

This report is compiled by Computershare Trust Company, N.A. from information provided by third parties. Computershare Trust Company, N.A. has not independently confirmed the accuracy of the information.

Please visit www.ctslink.com for additional information and if applicable, any special notices and any credit risk retention notices. In addition, certificate holders may register online for email notification when special notices are posted. For information or assistance please call 866-846-4526.

   

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Page 1 of 27

 


 

 

                         

 

 

 

 

Certificate Distribution Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

Original

 

 

Pass-Through

 

 

     Principal

Interest

      Prepayment

 

 

 

Credit

Credit

Class

CUSIP

Rate (2)

      Original Balance                            Beginning Balance

    Distribution

Distribution

      Penalties

        Realized Losses            Total Distribution         Ending Balance

Support¹        Support¹

 

A-1

08164BAA8

4.837200%

2,019,000.00

1,924,006.45

28,139.90

7,755.67

0.00

0.00

35,895.57

1,895,866.55

30.00%

30.00%

A-2

08164BAB6

5.221600%

18,500,000.00

18,500,000.00

0.00

80,499.67

0.00

0.00

80,499.67

18,500,000.00

30.00%

30.00%

A-3

08164BAC4

5.176100%

130,000,000.00

130,000,000.00

0.00

560,744.17

0.00

0.00

560,744.17

130,000,000.00

30.00%

30.00%

A-4

08164BAD2

5.659900%

506,951,000.00

506,951,000.00

0.00

2,391,076.64

0.00

0.00

2,391,076.64

506,951,000.00

30.00%

30.00%

A-M

08164BAG5

6.089800%

102,143,000.00

102,143,000.00

0.00

518,358.70

0.00

0.00

518,358.70

102,143,000.00

19.13%

19.13%

B

08164BAH3

6.602995%

45,788,000.00

45,788,000.00

0.00

251,948.26

0.00

0.00

251,948.26

45,788,000.00

14.25%

14.25%

C

08164BAJ9

6.602995%

37,570,000.00

37,570,000.00

0.00

206,728.76

0.00

0.00

206,728.76

37,570,000.00

10.25%

10.25%

D

08164BAM2

4.500000%

11,552,000.00

11,552,000.00

0.00

43,320.00

0.00

0.00

43,320.00

11,552,000.00

9.02%

9.02%

E-RR

08164BAP5

6.602995%

20,147,000.00

20,147,000.00

0.00

110,858.78

0.00

0.00

110,858.78

20,147,000.00

6.88%

6.88%

F-RR

08164BAR1

6.602995%

14,089,000.00

14,089,000.00

0.00

77,524.66

0.00

0.00

77,524.66

14,089,000.00

5.38%

5.38%

G-RR

08164BAT7

6.602995%

15,263,000.00

15,263,000.00

0.00

83,984.59

0.00

0.00

83,984.59

15,263,000.00

3.75%

3.75%

J-RR*

08164BAV2

6.602995%

35,221,692.00

35,221,692.00

0.00

193,832.07

0.00

0.00

193,832.07

35,221,692.00

0.00%

0.00%

R

08164BAZ3

0.000000%

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

0.00%

S

08164BAX8

0.000000%

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

0.00%

Regular SubTotal

 

939,243,692.00

939,148,698.45

28,139.90

4,526,631.97

0.00

0.00

4,554,771.87

939,120,558.55

 

 

 

 

X-A

08164BAE0

0.980848%

759,613,000.00

759,518,006.45

0.00

620,809.55

0.00

0.00

620,809.55

759,489,866.55

 

 

X-D

08164BAK6

2.102995%

11,552,000.00

11,552,000.00

0.00

20,244.83

0.00

0.00

20,244.83

11,552,000.00

 

 

Notional SubTotal

 

771,165,000.00

771,070,006.45

0.00

641,054.38

0.00

0.00

641,054.38

771,041,866.55

 

 

 

Deal Distribution Total

 

 

 

28,139.90

5,167,686.35

0.00

0.00

5,195,826.25

 

 

 

 

*

Denotes the Controlling Class (if required)

 

 

 

 

 

 

 

 

 

 

(1)

Calculated by taking (A) the sum of the ending certificate balance of all classes in a series less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and

 

dividing the result by (A).

 

 

 

 

 

 

 

 

 

 

 

(2)

Pass-Through Rates with respect to any Class of Certificates on next month’s Payment Date is expected to be the same as the current respective Pass-Through Rate, subject to any modifications on the underlying loans, any change in certificate or pool balance, any change in

 

the underlying index (if and as applicable), and any other matters provided in the governing documents.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 2 of 27

 


 

 

                     

 

 

 

 

Certificate Factor Detail

 

 

 

 

 

 

 

 

 

Cumulative

 

 

 

 

 

 

 

 

 

Interest Shortfalls

Interest

 

 

 

 

Class

CUSIP

Beginning Balance

Principal Distribution

Interest Distribution

/ (Paybacks)

Shortfalls

Prepayment Penalties

    Losses

Total Distribution

Ending Balance

Regular Certificates

 

 

 

 

 

 

 

 

 

A-1

08164BAA8

952.95019812

13.93754334

3.84134225

0.00000000

0.00000000

0.00000000

0.00000000

17.77888559

939.01265478

A-2

08164BAB6

1,000.00000000

0.00000000

4.35133351

0.00000000

0.00000000

0.00000000

0.00000000

4.35133351

1,000.00000000

A-3

08164BAC4

1,000.00000000

0.00000000

4.31341669

0.00000000

0.00000000

0.00000000

0.00000000

4.31341669

1,000.00000000

A-4

08164BAD2

1,000.00000000

0.00000000

4.71658334

0.00000000

0.00000000

0.00000000

0.00000000

4.71658334

1,000.00000000

A-M

08164BAG5

1,000.00000000

0.00000000

5.07483332

0.00000000

0.00000000

0.00000000

0.00000000

5.07483332

1,000.00000000

B

08164BAH3

1,000.00000000

0.00000000

5.50249541

0.00000000

0.00000000

0.00000000

0.00000000

5.50249541

1,000.00000000

C

08164BAJ9

1,000.00000000

0.00000000

5.50249561

0.00000000

0.00000000

0.00000000

0.00000000

5.50249561

1,000.00000000

D

08164BAM2

1,000.00000000

0.00000000

3.75000000

0.00000000

0.00000000

0.00000000

0.00000000

3.75000000

1,000.00000000

E-RR

08164BAP5

1,000.00000000

0.00000000

5.50249566

0.00000000

0.00000000

0.00000000

0.00000000

5.50249566

1,000.00000000

F-RR

08164BAR1

1,000.00000000

0.00000000

5.50249556

0.00000000

0.00000000

0.00000000

0.00000000

5.50249556

1,000.00000000

G-RR

08164BAT7

1,000.00000000

0.00000000

5.50249558

0.00000000

0.00000000

0.00000000

0.00000000

5.50249558

1,000.00000000

J-RR

08164BAV2

1,000.00000000

0.00000000

5.50320155

(0.00070610)

0.00000000

0.00000000

0.00000000

5.50320155

1,000.00000000

R

08164BAZ3

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

S

08164BAX8

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

 

Notional Certificates

 

 

 

 

 

 

 

 

 

X-A

08164BAE0

999.87494481

0.00000000

0.81727083

0.00000000

0.00000000

0.00000000

0.00000000

0.81727083

999.83789976

X-D

08164BAK6

1,000.00000000

0.00000000

1.75249567

0.00000000

0.00000000

0.00000000

0.00000000

1.75249567

1,000.00000000

 

 

 

 

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Page 3 of 27

 


 

 

                         

 

 

 

 

Certificate Interest Reconciliation Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Additional

 

 

 

 

 

 

 

Accrued

Net Aggregate

Distributable

    Interest

 

     Interest

 

 

 

 

 

Accrual

Prior Interest

Certificate

Prepayment

Certificate

     Shortfalls /

    Payback of Prior

     Distribution

Interest

Cumulative

 

Class

Accrual Period

Days

Shortfalls

Interest

Interest Shortfall

Interest

     (Paybacks)

     Realized Losses

      Amount

Distribution

Interest Shortfalls

 

A-1

07/01/25 - 07/30/25

30

0.00

7,755.67

0.00

7,755.67

0.00

0.00

0.00

7,755.67

0.00

 

A-2

07/01/25 - 07/30/25

30

0.00

80,499.67

0.00

80,499.67

0.00

0.00

0.00

80,499.67

0.00

 

A-3

07/01/25 - 07/30/25

30

0.00

560,744.17

0.00

560,744.17

0.00

0.00

0.00

560,744.17

0.00

 

A-4

07/01/25 - 07/30/25

30

0.00

2,391,076.64

0.00

2,391,076.64

0.00

0.00

0.00

2,391,076.64

0.00

 

A-M

07/01/25 - 07/30/25

30

0.00

518,358.70

0.00

518,358.70

0.00

0.00

0.00

518,358.70

0.00

 

B

07/01/25 - 07/30/25

30

0.00

251,948.26

0.00

251,948.26

0.00

0.00

0.00

251,948.26

0.00

 

C

07/01/25 - 07/30/25

30

0.00

206,728.76

0.00

206,728.76

0.00

0.00

0.00

206,728.76

0.00

 

X-A

07/01/25 - 07/30/25

30

0.00

620,809.55

0.00

620,809.55

0.00

0.00

0.00

620,809.55

0.00

 

X-D

07/01/25 - 07/30/25

30

0.00

20,244.83

0.00

20,244.83

0.00

0.00

0.00

20,244.83

0.00

 

D

07/01/25 - 07/30/25

30

0.00

43,320.00

0.00

43,320.00

0.00

0.00

0.00

43,320.00

0.00

 

E-RR

07/01/25 - 07/30/25

30

0.00

110,858.78

0.00

110,858.78

0.00

0.00

0.00

110,858.78

0.00

 

F-RR

07/01/25 - 07/30/25

30

0.00

77,524.66

0.00

77,524.66

0.00

0.00

0.00

77,524.66

0.00

 

G-RR

07/01/25 - 07/30/25

30

0.00

83,984.59

0.00

83,984.59

0.00

0.00

0.00

83,984.59

0.00

 

J-RR

07/01/25 - 07/30/25

30

24.87

193,807.20

0.00

193,807.20

(24.87)

0.00

0.00

193,832.07

0.00

 

Totals

 

 

24.87

5,167,661.48

0.00

5,167,661.48

(24.87)

0.00

0.00

5,167,686.35

0.00

 

 

 

 

 

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Page 4 of 27

 


 

 

     

 

Additional Information

 

Total Available Distribution Amount (1)

5,195,826.25

 

(1) The Available Distribution Amount includes any Prepayment Premiums.

 

 

 

 

 

 

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Page 5 of 27

 


 

 

       

Bond / Collateral Reconciliation - Cash Flows

 

 

Total Funds Collected

 

Total Funds Distributed

 

Interest

 

Fees

 

Interest Paid or Advanced

5,181,083.88

Master Servicing Fee

2,885.26

Interest Reductions due to Nonrecoverability Determination

0.00

Certificate Administrator Fee

8,451.03

Interest Adjustments

33.34

Trustee Fee

0.00

Deferred Interest

0.00

CREFC® Intellectual Property Royalty License Fee

404.36

ARD Interest

0.00

Operating Advisor Fee

1,690.21

Net Prepayment Interest Excess / (Shortfall)

0.00

Asset Representations Reviewer Fee

0.00

Extension Interest

0.00

 

 

Interest Reserve Withdrawal

0.00

 

 

Total Interest Collected

5,181,117.22

Total Fees

13,430.85

 

Principal

 

Expenses/Reimbursements

 

Scheduled Principal

28,139.90

Reimbursement for Interest on Advances

0.00

Unscheduled Principal Collections

 

ASER Amount

0.00

Principal Prepayments

0.00

Special Servicing Fees (Monthly)

0.00

Collection of Principal after Maturity Date

0.00

Special Servicing Fees (Liquidation)

0.00

Recoveries From Liquidations and Insurance Proceeds

0.00

Special Servicing Fees (Work Out)

0.00

Excess of Prior Principal Amounts Paid

0.00

Legal Fees

0.00

Curtailments

0.00

Rating Agency Expenses

0.00

Principal Adjustments

0.00

Taxes Imposed on Trust Fund

0.00

 

 

Non-Recoverable Advances

0.00

 

 

Workout Delayed Reimbursement Amounts

0.00

 

 

Other Expenses

0.00

Total Principal Collected

28,139.90

Total Expenses/Reimbursements

0.00

 

 

 

Interest Reserve Deposit

0.00

 

Other

 

Payments to Certificateholders and Others

 

Prepayment Penalties / Yield Maintenance

0.00

Interest Distribution

5,167,686.35

Gain on Sale / Excess Liquidation Proceeds

0.00

Principal Distribution

28,139.90

Borrower Option Extension Fees

0.00

Prepayment Penalties / Yield Maintenance

0.00

 

 

Borrower Option Extension Fees

0.00

 

Total Other Collected

0.00

Total Payments to Certificateholders and Others

5,195,826.25

Total Funds Collected

5,209,257.12

Total Funds Distributed

5,209,257.10

 

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Page 6 of 27

 


 

 

           

 

 

Bond / Collateral Reconciliation - Balances

 

 

 

 

Collateral Reconciliation

 

Certificate Reconciliation

 

 

 

 

Total

 

Total

Beginning Scheduled Collateral Balance

939,148,699.25

939,148,699.25

Beginning Certificate Balance

939,148,698.45

(-) Scheduled Principal Collections

28,139.90

28,139.90

(-) Principal Distributions

28,139.90

(-) Unscheduled Principal Collections

0.00

0.00

(-) Realized Losses

0.00

(-) Principal Adjustments (Cash)

0.00

0.00

Realized Loss and Realized Loss Adjustments on Collateral

0.00

(-) Principal Adjustments (Non-Cash)

0.00

0.00

Current Period NRA¹

0.00

(-) Realized Losses from Collateral

0.00

0.00

Current Period WODRA¹

0.00

(-) Other Adjustments²

0.00

0.00

Principal Used to Pay Interest

0.00

 

 

 

 

Non-Cash Principal Adjustments

0.00

Ending Scheduled Collateral Balance

939,120,559.35

939,120,559.35

Certificate Other Adjustments**

0.00

Beginning Actual Collateral Balance

939,148,699.25

939,148,699.25

Ending Certificate Balance

939,120,558.55

Ending Actual Collateral Balance

939,120,559.35

939,120,559.35

 

 

 

 

 

 

 

NRA/WODRA Reconciliation

 

Under / Over Collateralization Reconciliation

 

 

 

Non-Recoverable Advances (NRA) from

Workout Delayed Reimbursement of Advances

 

 

 

 

Principal

(WODRA) from Principal

Beginning UC / (OC)

(0.80)

Beginning Cumulative Advances

0.00

0.00

UC / (OC) Change

0.00

Current Period Advances

0.00

0.00

Ending UC / (OC)

(0.80)

Ending Cumulative Advances

0.00

0.00

Net WAC Rate

6.60%

 

 

 

 

UC / (OC) Interest

0.00

(1)

Current Period NRA and WODRA displayed will represent the portion applied as Realized Losses to the bonds.

 

 

 

(2)

Other Adjustments value will represent miscellaneous items that may impact the Scheduled Balance of the collateral.

 

 

 

**

A negative value for Certificate Other Adjustments represents the payback of prior Principal Shortfalls, if any.

 

 

 

 

 

 

 

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Page 7 of 27

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Scheduled Balance

 

 

 

 

 

Debt Service Coverage Ratio¹

 

 

 

 

Scheduled

# Of

Scheduled

% Of

 

 

Weighted Avg

Debt Service Coverage

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Balance

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Ratio

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

$9,999,999 or less

9

58,218,081.45

6.20%

55

6.3392

2.041873

1.49 or less

16

451,275,000.00

48.05%

55

6.4708

1.316546

$10,000,000 to $19,999,999

14

178,900,000.00

19.05%

52

6.2190

1.731947

1.50 to 1.99

13

342,602,477.90

36.48%

53

6.5005

1.742534

$20,000,000 to $29,999,999

7

152,102,477.90

16.20%

55

6.4584

1.919708

2.00 to 2.49

11

127,243,081.45

13.55%

55

6.0640

2.241273

$30,000,000 to $39,999,999

2

65,500,000.00

6.97%

55

6.3544

1.475725

2.50 or greater

2

18,000,000.00

1.92%

53

5.4310

3.100000

$40,000,000 to $49,999,999

6

255,400,000.00

27.20%

55

6.3294

1.438923

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

$50,000,000 to $59,999,999

3

159,000,000.00

16.93%

55

6.6090

1.530578

 

 

 

 

 

 

 

 

$60,000,000 or greater

1

70,000,000.00

7.45%

55

6.7000

1.483900

 

 

 

 

 

 

 

 

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

 

 

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is

 

used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 8 of 27

 


 

 

                           

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

 

State³

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Type³

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

 

 

State

 

 

 

WAM²

WAC

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

Property Type

 

 

 

WAM²

WAC

 

 

 

 

 

 

 

 

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

 

Alabama

1

11,000,000.00

1.17%

55

6.4200

1.500000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial

3

23,707,081.45

2.52%

35

6.4333

2.002188

California

8

72,532,026.14

7.72%

54

6.0067

1.916897

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lodging

2

33,602,477.90

3.58%

55

6.8283

1.963087

Connecticut

1

70,000,000.00

7.45%

55

7.3790

1.728620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mixed Use

8

86,956,862.74

9.26%

54

5.8122

2.410089

Florida

1

70,000,000.00

7.45%

55

6.6580

1.781619

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mobile Home Park

1

7,500,000.00

0.80%

55

6.0280

2.120000

Idaho

1

59,000,000.00

6.28%

54

5.9150

1.150000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multi-Family

18

427,600,000.00

45.53%

55

6.4021

1.315094

Illinois

2

44,500,000.00

4.74%

54

6.6470

1.250000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office

7

231,643,137.25

24.67%

55

6.5383

1.832176

Kansas

7

18,699,937.94

1.99%

40

6.0949

2.027301

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

3

86,736,000.00

9.24%

55

6.7089

1.564523

Massachusetts

3

74,779,738.56

7.96%

55

6.0051

1.839725

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Self Storage

19

41,375,000.00

4.41%

55

6.0413

1.710151

Michigan

1

7,500,000.00

0.80%

55

6.0280

2.120000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Totals

61

939,120,559.35

100.00%

54

6.4066

1.631428

Missouri

1

7,600,000.00

0.81%

56

6.9150

2.350000

 

 

 

 

 

 

 

 

New Jersey

4

76,500,000.00

8.15%

55

6.5220

1.288329

 

 

 

 

 

 

 

 

New Mexico

1

21,500,000.00

2.29%

55

6.2800

1.330000

 

 

 

 

 

 

 

 

New York

6

108,657,081.45

11.57%

54

5.8967

2.110869

 

 

 

 

 

 

 

 

North Carolina

3

46,725,000.00

4.98%

55

6.7161

1.281310

 

 

 

 

 

 

 

 

Ohio

1

26,002,477.90

2.77%

55

6.8030

1.850000

 

 

 

 

 

 

 

 

Oklahoma

2

35,500,000.00

3.78%

55

6.7600

1.320000

 

 

 

 

 

 

 

 

Tennessee

1

3,036,131.00

0.32%

55

5.5000

2.200000

 

 

 

 

 

 

 

 

Texas

13

61,663,931.06

6.57%

52

6.3460

1.513845

 

 

 

 

 

 

 

 

Virginia

1

43,000,000.00

4.58%

55

6.2600

1.358342

 

 

 

 

 

 

 

 

Washington

3

80,924,235.29

8.62%

55

6.6672

1.586054

 

 

 

 

 

 

 

 

Totals

61

939,120,559.35

100.00%

54

6.4066

1.631428

 

 

 

 

 

 

 

 

 

Note: Please refer to footnotes on the next page of the report.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 9 of 27

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Note Rate

 

 

 

 

 

Seasoning

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Note Rate

 

 

 

WAM²

WAC

 

Seasoning

 

 

 

WAM²

WAC

 

 

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

6.000% or less

12

238,350,000.00

25.38%

54

5.7858

1.873454

12 months or less

42

939,120,559.35

100.00%

54

6.4066

1.631428

 

6.001% to 6.500%

14

245,482,081.45

26.14%

53

6.2708

1.572035

13 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

6.501% to 6.750%

10

310,450,000.00

33.06%

55

6.6753

1.458939

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

 

6.751% to 7.000%

4

74,838,477.90

7.97%

55

6.8052

1.680046

 

 

 

 

 

 

 

 

7.001% or greater

2

70,000,000.00

7.45%

55

7.3790

1.728620

 

 

 

 

 

 

 

 

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

 

 

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 10 of 27

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

Anticipated Remaining Term (ARD and Balloon Loans)

 

 

 

Remaining Amortization Term (ARD and Balloon Loans)

 

 

 

Anticipated

# Of

Scheduled

% Of

 

 

Weighted Avg

Remaining

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Remaining Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Amortization Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

59 months or less

42

939,120,559.35

100.00%

54

6.4066

1.631428

Interest Only

40

907,911,000.00

96.68%

54

6.3964

1.621163

 

60 months or greater

0

0.00

0.00%

0

0.0000

0.000000

359 or less

2

31,209,559.35

3.32%

55

6.7024

1.930038

 

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

360 or more

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

 

 

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

© 2021 Computershare. All rights reserved. Confidential.

 

 

 

 

 

 

 

 

 

Page 11 of 27

 


 

 

                         

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

Age of Most Recent NOI

 

 

 

 

Remaining Stated Term (Fully Amortizing Loans)

 

 

Age of Most

# Of

Scheduled

% Of

 

 

Weighted Avg

Age of Most

# Of

Scheduled

% Of

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

       WAM²

WAC

 

Recent NOI

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Recent NOI

Loans

Balance

Agg. Bal.

DSCR¹

Underwriter's Information

40

850,120,559.35

90.52%

54

6.4595

1.663832

 

 

No outstanding loans in this group

 

 

12 months or less

2

89,000,000.00

9.48%

54

5.9013

1.321910

 

 

 

 

 

 

13 months to 24 months

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

25 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

Totals

42

939,120,559.35

100.00%

54

6.4066

1.631428

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

© 2021 Computershare. All rights reserved. Confidential.

 

 

 

 

 

 

 

Page 12 of 27

 


 

 

                               

 

 

 

 

 

 

Mortgage Loan Detail (Part 1)

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

 

 

Original

Adjusted

Beginning

Ending

Paid

 

 

Prop

 

 

Accrual

Gross

Scheduled

    Scheduled

     Principal           Anticipated      Maturity

Maturity

Scheduled

Scheduled

Through

Pros ID

Loan ID

Type

     City

State

Type

Rate

Interest

    Principal

    Adjustments        Repay Date

Date

Date

Balance

Balance

Date

1A-4-2

30323148

MU

Various

Various

Actual/360

5.912%

101,811.70

0.00

0.00

N/A

02/06/30

--

20,000,000.00

20,000,000.00

08/06/25

1A-5-2-2

30323149

MU

Various

Various

Actual/360

5.912%

25,452.92

0.00

0.00

N/A

02/06/30

--

5,000,000.00

5,000,000.00

08/06/25

1A-5-3

30323150

Various      Various

CA

Actual/360

5.912%

55,996.43

0.00

0.00

N/A

02/06/30

--

11,000,000.00

11,000,000.00

08/06/25

1A-6-3

30323151

MU

Seattle

WA

Actual/360

5.912%

50,905.85

0.00

0.00

N/A

02/06/30

--

10,000,000.00

10,000,000.00

08/06/25

1A-7-1

30323152

MU

San Diego

CA

Actual/360

5.912%

122,174.04

0.00

0.00

N/A

02/06/30

--

24,000,000.00

24,000,000.00

08/06/25

2A-1

30511875

OF

Fort Lauderdale

FL

Actual/360

6.658%

286,663.89

0.00

0.00

N/A

03/06/30

--

50,000,000.00

50,000,000.00

08/06/25

2A-3

30511877

 

 

 

Actual/360

6.658%

114,665.56

0.00

0.00

N/A

03/06/30

--

20,000,000.00

20,000,000.00

08/06/25

3A-1

30511949

RT

Redmond

WA

Actual/360

6.700%

403,861.11

0.00

0.00

N/A

03/06/30

--

70,000,000.00

70,000,000.00

08/06/25

4A-1

30511882

OF

Stamford

CT

Actual/360

7.379%

317,706.94

0.00

0.00

N/A

03/06/30

--

50,000,000.00

50,000,000.00

08/06/25

4A-3

30511884

 

 

 

Actual/360

7.379%

127,082.78

0.00

0.00

N/A

03/06/30

--

20,000,000.00

20,000,000.00

08/06/25

5

30511714

MF

Boise

ID

Actual/360

5.915%

300,514.86

0.00

0.00

N/A

02/06/30

--

59,000,000.00

59,000,000.00

08/06/25

6

30511843

MF

Chicago

IL

Actual/360

6.647%

254,709.35

0.00

0.00

N/A

02/06/30

--

44,500,000.00

44,500,000.00

08/06/25

7

30511897

MF

Mays Landing

NJ

Actual/360

6.670%

253,867.61

0.00

0.00

N/A

03/06/30

--

44,200,000.00

44,200,000.00

08/06/25

8

30511934

MF

Newport News

VA

Actual/360

6.260%

231,793.89

0.00

0.00

N/A

03/06/30

--

43,000,000.00

43,000,000.00

08/06/25

9

30511896

MF

Fayetteville

NC

Actual/360

6.740%

244,924.11

0.00

0.00

N/A

03/06/30

--

42,200,000.00

42,200,000.00

08/06/25

10

30511940

MF

Boston

MA

Actual/360

6.080%

217,275.56

0.00

0.00

N/A

03/06/30

--

41,500,000.00

41,500,000.00

08/06/25

11A-11

30323156

OF

New York

NY

Actual/360

5.500%

189,433.80

0.00

0.00

N/A

01/09/30

--

40,000,000.00

40,000,000.00

07/09/25

12

30323153

MF

Tulsa

OK

Actual/360

6.760%

206,649.44

0.00

0.00

N/A

03/06/30

--

35,500,000.00

35,500,000.00

05/06/25

13A-1-C1

30511870

OF

San Francisco

CA

Actual/360

5.874%

151,790.29

0.00

0.00

02/10/30

02/10/35

--

30,000,000.00

30,000,000.00

08/10/25

14

30511938

LO

West Chester

OH

Actual/360

6.803%

152,430.25

17,774.38

0.00

N/A

03/06/30

--

26,020,252.28

26,002,477.90

08/06/25

15

30323154

MF

Albuquerque

NM

Actual/360

6.280%

116,267.22

0.00

0.00

N/A

03/06/30

--

21,500,000.00

21,500,000.00

08/06/25

16A-2

30512007

OF

New York

NY

Actual/360

6.290%

111,577.61

0.00

0.00

N/A

03/06/30

--

20,600,000.00

20,600,000.00

08/06/25

17A-2-2

30511906

IN

Various

Various

Actual/360

6.499%

103,532.68

0.00

0.00

01/06/28

01/06/30

--

18,500,000.00

18,500,000.00

08/06/25

18A-3-2

30512010

MU

New York

NY

Actual/360

5.431%

28,060.19

0.00

0.00

N/A

01/06/30

--

6,000,000.00

6,000,000.00

08/06/25

18A-5

30511702

 

 

 

Actual/360

5.431%

56,120.38

0.00

0.00

N/A

01/06/30

--

12,000,000.00

12,000,000.00

08/06/25

19

30511948

MF

New York

NY

Actual/360

6.390%

95,468.38

0.00

0.00

N/A

03/06/30

--

17,350,000.00

17,350,000.00

08/06/25

20

30323155

MF

Farmers Branch

TX

Actual/360

6.316%

94,090.86

0.00

0.00

N/A

03/06/30

--

17,300,000.00

17,300,000.00

08/06/25

21A-2-2

30511960

SS

Various

TX

Actual/360

6.135%

90,337.88

0.00

0.00

N/A

02/06/30

--

17,100,000.00

17,100,000.00

08/06/25

 

 

 

 

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Page 13 of 27

 


 

 

                               

 

 

 

 

 

 

Mortgage Loan Detail (Part 1)

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

 

 

Original

Adjusted

Beginning

Ending

Paid

 

 

Prop

 

 

Accrual

Gross

Scheduled

     Scheduled

      Principal          Anticipated      Maturity

Maturity

Scheduled

Scheduled

Through

Pros ID

Loan ID

Type

     City

State

Type

Rate

Interest

    Principal

     Adjustments       Repay Date

Date

Date

Balance

Balance

Date

22

30511908

MF

Jersey City

NJ

Actual/360

6.500%

62,968.75

0.00

0.00

N/A

03/06/30

--

11,250,000.00

11,250,000.00

08/06/25

23

30511911

MF

Birmingham

AL

Actual/360

6.420%

60,811.67

0.00

0.00

N/A

03/06/30

--

11,000,000.00

11,000,000.00

08/06/25

24

30530364

RT

Los Angeles

CA

Actual/360

6.640%

62,895.56

0.00

0.00

N/A

03/06/30

--

11,000,000.00

11,000,000.00

08/06/25

25

30511947

MF

Houston

TX

Actual/360

6.690%

61,928.96

0.00

0.00

N/A

04/06/30

--

10,750,000.00

10,750,000.00

08/06/25

26

30511942

MF

Jersey City

NJ

Actual/360

5.950%

55,078.82

0.00

0.00

N/A

04/06/30

--

10,750,000.00

10,750,000.00

07/06/25

27

30530362

SS

Various

Various

Actual/360

5.500%

50,202.78

0.00

0.00

N/A

03/06/30

--

10,600,000.00

10,600,000.00

08/06/25

28

30511803

MF

Absecon

NJ

Actual/360

6.508%

57,722.34

0.00

0.00

N/A

03/06/30

--

10,300,000.00

10,300,000.00

08/06/25

29

30511935

SS

Humble

TX

Actual/360

6.270%

49,402.38

0.00

0.00

N/A

03/06/30

--

9,150,000.00

9,150,000.00

08/06/25

30

30511968

LO

Springfield

MO

Actual/360

6.915%

45,254.83

0.00

0.00

N/A

04/06/30

--

7,600,000.00

7,600,000.00

08/06/25

31

30511899

MH

Cedar Springs

MI

Actual/360

6.028%

38,930.83

0.00

0.00

N/A

03/06/30

--

7,500,000.00

7,500,000.00

08/06/25

32

30511933

MF

Bronx

NY

Actual/360

6.700%

43,270.83

0.00

0.00

N/A

03/06/30

--

7,500,000.00

7,500,000.00

08/06/25

33

30511881

RT

Marysville

WA

Actual/360

6.950%

34,328.37

0.00

0.00

N/A

03/06/30

--

5,736,000.00

5,736,000.00

08/06/25

34

30511946

IN

Long Island City

NY

Actual/360

6.200%

27,855.37

10,365.52

0.00

N/A

04/06/30

--

5,217,446.97

5,207,081.45

08/06/25

35

30511849

SS

Various

NC

Actual/360

6.493%

25,300.15

0.00

0.00

N/A

03/06/30

--

4,525,000.00

4,525,000.00

08/06/25

Totals

 

 

 

 

 

 

5,181,117.22

28,139.90

0.00

 

 

 

939,148,699.25

939,120,559.35

 

1 Property Type Codes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HC - Health Care

MU - Mixed Use

WH - Warehouse

MF - Multi-Family

 

 

 

 

 

 

 

 

SS - Self Storage

LO - Lodging

RT - Retail

 

SF - Single Family Rental

 

 

 

 

 

 

 

 

98 - Other

 

IN - Industrial

OF - Office

 

MH - Mobile Home Park

 

 

 

 

 

 

 

 

SE - Securities

CH - Cooperative Housing

ZZ - Missing Information/Undefined

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 14 of 27

 


 

 

                           

 

 

 

 

 

Mortgage Loan Detail (Part 2)

 

 

 

 

 

 

 

 

 

Most Recent             Most Recent        Appraisal

 

 

 

 

   Cumulative

Current

 

 

 

Most Recent

Most Recent

NOI Start

NOI End

Reduction

     Appraisal

     Cumulative

    Current P&I

   Cumulative P&I

    Servicer

NRA/WODRA

 

 

Pros ID

Fiscal NOI

NOI

Date

Date

Date

    Reduction Amount

      ASER

     Advances

     Advances

    Advances

from Principal

Defease Status

 

1A-4-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

1A-5-2-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

1A-5-3

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

1A-6-3

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

1A-7-1

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

2A-1

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

2A-3

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

3A-1

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

4A-1

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

4A-3

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

5

0.00

1,036,527.85

01/01/25

03/31/25

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

6

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

7

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

8

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

9

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

10

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

11A-11

0.00

0.00

--

--

--

0.00

0.00

189,383.85

189,383.85

0.00

0.00

 

 

12

0.00

0.00

--

--

--

0.00

0.00

206,174.39

613,055.41

0.00

0.00

 

 

13A-1-C1

0.00

13,556,668.16

01/01/25

03/31/25

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

14

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

15

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

16A-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

17A-2-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

18A-3-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

18A-5

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

19

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

20

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

21A-2-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

 

 

 

 

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Page 15 of 27

 


 

 

                           

 

 

 

 

 

Mortgage Loan Detail (Part 2)

 

 

 

 

 

 

 

 

 

Most Recent             Most Recent         Appraisal

 

 

 

 

Cumulative

     Current

 

 

 

Most Recent

Most Recent

NOI Start

NOI End

Reduction

    Appraisal

     Cumulative

     Current P&I

    Cumulative P&I

Servicer

     NRA/WODRA

 

 

Pros ID

Fiscal NOI

NOI

Date

Date

Date

   Reduction Amount

      ASER

    Advances

    Advances

Advances

     from Principal

Defease Status

 

22

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

28,059.81

0.00

 

 

23

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

24

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

25

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

26

0.00

0.00

--

--

--

0.00

0.00

55,055.68

55,055.68

2,658.67

0.00

 

 

27

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

28

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

29

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

5,449.89

0.00

 

 

30

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

31

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

32

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

33

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

34

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

35

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

Totals

0.00

14,593,196.01

 

 

 

0.00

0.00

450,613.92

857,494.94

36,168.37

0.00

 

 

 

 

 

 

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Page 16 of 27

 


 

 

           

 

 

 

Principal Prepayment Detail

 

 

 

 

 

Unscheduled Principal

Prepayment Penalties

Pros ID

Loan Number

Amount

Prepayment / Liquidation Code

Prepayment Premium Amount

Yield Maintenance Amount

 

 

 

No principal prepayments this period

 

 

Note: Principal Prepayment Amount listed here may include Principal Adjustment Amounts on the loan in addition to the Unscheduled Principal Amount.

 

 

 

 

 

 

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Page 17 of 27

 


 

 

                                           

 

 

 

 

 

 

 

 

Historical Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delinquencies¹

 

 

 

 

 

 

Prepayments

 

 

Rate and Maturities

 

 

30-59 Days

 

60-89 Days

 

90 Days or More

 

Foreclosure

 

REO

 

Modifications

 

 

Curtailments

 

Payoff

 

Next Weighted Avg.

 

Distribution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

Balance

#

   Balance

#

        Balance

#

       Balance

#

      Balance

#

     Balance

#

 

       Amount

#

    Amount

 

Coupon

Remit

WAM¹

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

08/15/25

0

0.00

1

35,500,000.00

0

0.00

0

0.00

0

0.00

0

0.00

0

 

0.00

0

0.00

 

6.406587%

6.389979%

54

07/17/25

0

0.00

1

35,500,000.00

0

0.00

0

0.00

0

0.00

0

0.00

0

 

0.00

0

0.00

 

6.406592%

6.389984%

55

06/17/25

1

35,500,000.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

 

0.00

0

0.00

 

6.406599%

6.389991%

56

05/16/25

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

 

0.00

0

0.00

 

6.406615%

6.390007%

57

(1) Foreclosure and REO Totals are included in the delinquencies aging categories.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 18 of 27

 


 

 

                                 

 

 

 

 

 

 

Delinquency Loan Detail

 

 

 

 

 

 

 

 

 

 

Paid

 

Mortgage

 

 

    Outstanding

 

Servicing

Resolution

 

 

 

 

 

 

Through

Months

Loan

 

Current P&I

Outstanding P&I

     Servicer

               Actual Principal

Transfer

Strategy

Bankruptcy

Foreclosure

 

Pros ID

Loan ID

Date

Delinquent

Status¹

Advances

Advances

     Advances

                   Balance

Date

Code²

 

Date

Date

REO Date

11A-11

30323156

07/09/25

0

B

 

189,383.85

189,383.85

0.00

 

40,000,000.00

 

 

 

 

 

 

12

30323153

05/06/25

2

2

 

206,174.39

613,055.41

0.00

 

35,500,000.00

 

 

 

 

 

 

26

30511942

07/06/25

0

B

 

55,055.68

55,055.68

2,658.67

10,750,000.00

 

 

 

 

 

 

Totals

 

 

 

 

 

450,613.92

857,494.94

2,658.67

86,250,000.00

 

 

 

 

 

 

1 Mortgage Loan Status

 

 

 

 

 

 

 

2 Resolution Strategy Code

 

 

 

 

 

 

A - Payment Not Received But Still in Grace Period 0 - Current

 

4 - Performing Matured Balloon

 

 

1 - Modification

 

6 - DPO

 

 

10 - Deed in Lieu of Foreclosures

B - Late Payment But Less Than 30 days

1 - 30-59 Days Delinquent

5 - Non Performing Matured Balloon

 

2 - Foreclosure

 

7 - REO

 

 

11- Full Payoff

 

Delinquent

 

 

 

 

 

 

 

 

3 - Bankruptcy

 

8 - Resolved

 

 

12 - Reps and Warranties

 

 

 

2 - 60-89 Days Delinquent

6 - 121+ Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 - Extension

 

9 - Pending Return to Master Servicer

13 -

TBD

 

 

 

 

3 - 90-120 Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5 - Note Sale

 

98 - Other

 

 

 

 

 

 

 

 

 

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Page 19 of 27

 


 

 

                 

 

 

 

 

Collateral Stratification and Historical Detail

 

Maturity Dates and Loan Status¹

 

 

 

 

 

 

 

 

 

     Total

    Performing

Non-Performing

      REO/Foreclosure

 

 

Past Maturity

 

0

0

0

 

 

0

 

0 - 6 Months

 

0

0

0

 

 

0

 

7 - 12 Months

 

0

0

0

 

 

0

 

13 - 24 Months

 

0

0

0

 

 

0

 

25 - 36 Months

 

0

0

0

 

 

0

 

37 - 48 Months

 

0

0

0

 

 

0

 

49 - 60 Months

 

909,120,559

873,620,559

      35,500,000

 

0

 

> 60 Months

 

30,000,000

30,000,000

0

 

 

0

 

 

 

 

 

Historical Delinquency Information

 

 

 

 

 

 

 

 

Total

Current

    30-59 Days

    60-89 Days

     90+ Days

 

   REO/Foreclosure

 

 

Aug-25

939,120,559

903,620,559

0

35,500,000

0

 

0

 

Jul-25

939,148,699

903,648,699

0

35,500,000

0

 

0

 

Jun-25

939,182,469

903,682,469

35,500,000

0

0

 

0

 

May-25

939,210,259

939,210,259

0

0

0

 

0

 

 

 

 

 

(1) Maturity dates used in this chart are based on the dates provided by the Master Servicer in the Loan Periodic File.

 

 

 

 

 

 

 

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Page 20 of 27

 


 

 

                     

 

 

 

Specially Serviced Loan Detail - Part 1

 

 

 

 

 

 

Ending Scheduled

 

 

 

Net Operating

 

 

 

Remaining

Pros ID

Loan ID

Balance

Actual Balance

Appraisal Value

Appraisal Date

Income

DSCR

DSCR Date

Maturity Date

Amort Term

 

 

 

 

No specially serviced loans this period

 

 

 

 

 

 

 

 

 

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Page 21 of 27

 


 

 

                 

 

 

 

 

 

Specially Serviced Loan Detail - Part 2

 

 

 

 

 

 

Servicing

 

 

 

 

 

 

Property

 

Transfer

Resolution

 

 

 

Pros ID

Loan ID

Type¹

State

Date

Strategy Code²

 

Special Servicing Comments

 

 

 

 

 

 

No specially serviced loans this period

 

 

1 Property Type Codes

 

 

 

 

2 Resolution Strategy Code

 

 

HC - Health Care

 

MU - Mixed Use

WH - Warehouse

1 - Modification

6 - DPO

10 - Deed in Lieu of Foreclosures

MF - Multi-Family

 

SS - Self Storage

LO - Lodging

2 - Foreclosure

7 - REO

11- Full Payoff

RT - Retail

 

SF - Single Family Rental

98 - Other

3 - Bankruptcy

8 - Resolved

12 - Reps and Warranties

IN - Industrial

 

OF - Office

 

MH - Mobile Home Park

4 - Extension

9 - Pending Return to Master Servicer

13 - TBD

SE - Securities

 

CH - Cooperative Housing

ZZ - Missing Information/Undefined

5 - Note Sale

98 - Other

 

 

 

 

 

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Page 22 of 27

 


 

 

                 

 

 

 

 

Modified Loan Detail

 

 

 

 

 

 

Pre-Modification

Post-Modification

 

Modification

Modification

 

 

 

 

 

Modification

Modification Booking

Closing

Effective

 

 

Balance

Rate

Balance

Rate

 

 

 

Pros ID

Loan Number

 

 

 

Code¹

Date

Date

Date

 

 

 

 

No modified loans this period

 

 

 

1 Modification Codes

 

 

 

 

 

 

 

1 - Maturity Date Extension

5 - Temporary Rate Reduction

8 - Other

 

 

 

 

 

2 - Amortization Change

6 - Capitalization on Interest

9 - Combination

 

 

 

 

 

3 - Principal Write-Off

7 - Capitalization on Taxes

10 - Forbearance

 

 

 

 

 

 

Note: Please refer to Servicer Reports for modification comments.

 

 

 

 

 

 

 

 

 

 

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Page 23 of 27

 


 

 

                       

 

 

 

Historical Liquidated Loan Detail

 

 

 

 

 

Loan

 

Gross Sales

 

 

 

 

Current

 

Loss to Loan

Percent of

 

Beginning

Most Recent

Proceeds or

Fees,

Net Proceeds

Net Proceeds

 

Period

Cumulative

with

Original

       Loan

Scheduled

Appraised

Other

Advances,

Received on

Available for

Realized Loss

Adjustment to

Adjustment to

Cumulative

Loan

Pros ID¹         Number        Dist.Date

Balance

Value or BPO

Proceeds

and Expenses

Liquidation

Distribution

to Loan

Loan

Loan

Adjustment

Balance

 

 

 

 

No liquidated loans this period

 

 

 

 

 

Note: Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).

 

 

 

 

 

 

 

 

 

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Page 24 of 27

 


 

 

                     

 

 

 

Historical Bond / Collateral Loss Reconciliation Detail

 

 

 

 

 

 

Certificate

Reimb of Prior

 

 

 

 

 

 

 

 

 

Interest Paid

Realized Losses

 

Loss Covered by

 

 

 

 

Total Loss

 

 

from Collateral

from Collateral

Aggregate

Credit

Loss Applied to

Loss Applied to

Non-Cash

Realized Losses

Applied to

     Loan

Distribution

Principal

Interest

Realized Loss to

Support/Deal

Certificate

Certificate

Principal

from

Certificate

Pros ID        Number

Date

Collections

Collections

Loan

Structure

Interest Payment

Balance

Adjustment

NRA/WODRA

Balance

 

 

 

 

 

No realized losses this period

 

 

 

 

 

 

 

 

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Page 25 of 27

 


 

 

                         

 

 

 

Interest Shortfall Detail - Collateral Level

 

 

 

 

 

 

 

 

Special Servicing Fees

 

 

 

 

 

 

 

Modified

 

 

      Deferred

 

 

 

 

 

     Non-

 

    Reimbursement of

Other

Interest

 

      Interest

     Interest

 

 

 

 

 

    Recoverable

    Interest on

     Advances from

Shortfalls /

Reduction /

Pros ID

     Adjustments

     Collected

      Monthly

       Liquidation

       Work Out

      ASER

     PPIS / (PPIE)

     Interest

     Advances

      Interest

(Refunds)

(Excess)

13A-1-C1

(33.34)

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Total

(33.34)

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Note: Interest Adjustments listed for each loan do not include amounts that were used to adjust the Weighted Average Net Rate of the mortgage loans.

 

 

Collateral Shortfall Total

 

(33.34)

 

 

 

 

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Page 26 of 27

 


 

 

     

 

Supplemental Notes

 

 

None

 

 

 

 

 

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Page 27 of 27