KBRA Affirms All Ratings for FREMF 2020-K740
11 Oct 2024 | New York
KBRA affirms all of its outstanding ratings for FREMF 2020-K740, a $1.3 billion CMBS multi-borrower transaction. All loans were originated in conjunction with the Federal Home Loan Mortgage Corporation's (Freddie Mac) K-Deal program. The affirmations follow a surveillance review of the transaction, which has exhibited a slight improvement in pool performance since securitization.
As of the September 2024 remittance period, none of the loans are specially serviced or delinquent. However, KBRA identified three K-LOCs (1.8% of the pool balance), none of which have estimated losses.
The transaction's WA KLTV is 108.2%, compared to 111.6% at last review and 117.6% at securitization. The KDSC is 2.49x, compared to 2.39x at last review and 2.25x at securitization.
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