KBRA Affirms All Ratings for FREMF 2020-K108
21 Mar 2025 | New York
KBRA affirms all of its outstanding ratings for FREMF 2020-K108, 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 an improvement in pool performance since securitization.
As of the February 2025 remittance period, there are no delinquent or specially serviced loans. However, one loan (1.1% of the pool balance) has been identified as a K-LOC, which is not within the Top 10 nor does it have an estimated loss.
The transaction’s WA KLTV is 102.6%, compared to 103.2% at last review and 123.3% at securitization. The KDSC is 1.89x, compared to 1.85x at last review and 1.53x at securitization.
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