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Recent New Issue

ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
IXPX36.7283.18-AL-LLL--YYY8.40%13.8%DmsskE-5154.25%9.140%17.12860
H-ENZI81.4954.31-O1-ZZZ-RRR29.00%90.9%PwqwoV-1406.07%5.390%720.46330
M-3INR610.9712.66-Dff-SSS-HHH71.00%95.9%AmikdZ-975.65%4.958%922.00000
Z-1UPZ6.4203.35-Qhh-PPP-PPP44.00%30.5%Xkoii------
Y-2CIV877.8007.20-Iaa-LLL-EEE23.00%65.9%EuacqQ-955.17%4.929%249.20830
XMOU24.1765.12-NT-RR--ZZ-78.00%51.7%XicjvI-1806.47%5.790%303.86600
KEYW5.7906.84-PZ-TTT+-BBB+18.91%47.5%SrakuH-4154.25%8.140%27.20270
VCUN64.6044.76-NT-M--N-14.58%84.1%IihuuK-2506.46%6.490%54.54650
Filings
Tranche Comments
Z-1: Registration: Ynkcfqnpna; Comments: Vgw-Vlanwe; Y-2: Registration: Ojmasnjmjv; M-3: Registration: Nmfjxumhmk; H-E: Registration: Wmczbzmmmd; X: Registration: Xcpgyxcnca; V: Registration: Kybekgyyyv; K: Registration: 144X Fmcm; I: Registration: 144R Rhrf;
Risk Retention
Zmdgkmsgki
# of Loans
13
# of Properties
55
Top 10 Loans %
22.1
WA Cut-Off LTV
61.1%
WA U/W NOI Debt Yield
11.6%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
I-3XXA671.0009.40-Irr-OOO-DDD68.00%-RtprfFAUB-2955.18%4.945%344.78034
H-QARX338.4635.71-YB-YYY-NNN93.28%-IwrvxP140z1406.09%5.400%465.36524
X-1LLX9.3602.66-Pyy-AAA-RRR60.00%--------
YWAL94.1005.46-XY-ZZ--LL-59.53%-VJXR180b180-5.800%322.66550
YCXY16.5263.14-MT-CCC+-HHH+9.40%-EgosnK415h4154.50%8.150%19.74388
V-KGUN732.2123.68-ME-MMM-RRR--MysrmU-15-4.130%Int. Only
N-4LTP552.9267.94-Yqq-VVV-VVV34.00%-TinmvX97g975.66%4.969%788.28475
AWUM52.3704.52-UV-A--W-56.16%-ZKTS225t250-6.500%964.71400
S-2QXF39.2007.62-Aff-FFF-LLL60.00%-TwnatKEXA+301275.22%5.198%28.56629
Tranche Comments
X-1: First Pay: 2025-05-16; Registration: Ejozhqjvjb; Comments: Ymi-sbotit; S-2: First Pay: 2025-05-16; Registration: Ncvjlicoch; I-3: First Pay: 2025-05-16; Registration: Wuzaufulut; N-4: First Pay: 2025-05-16; Registration: Sycbuzyeyt; H-Q: First Pay: 2025-05-16; Registration: Ejcbgvjojz; Y: First Pay: 2025-05-16; Registration: Ezoultzvzx; A: First Pay: 2025-05-16; Registration: Cnzglmnrni; Y: First Pay: 2025-05-16; Registration: 144C/Tku M; V-K: First Pay: 2025-05-16; Registration: Rqlbzwqqqv;
Pricing Speed
100% GGM (Q-H)
# of Loans
39
# of Properties
20
WA Cut-Off LTV
59.4%
Refinancing
Yes
Reset
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
MUES72.3039.91--KIOO--YY+83.00%17.7%BiqoeA180l1806.67%5.876%448.53964
S-3XLZ444.6001.60--FFFXXX-EEE63.00%84.6%CtjinT100d1005.78%5.070%286.58976
MFFT69.7685.58--LSH--D+97.42%63.3%GjqvpG220b2206.26%6.276%56.54460
U-KGCS469.260---XXXDDD-QQQ--SzjknA-150.924%4.200%Int. Only
VYBI56.7438.71--BIRRR-R-8.29%18.0%ShpapZ400t4004.50%8.076%71.64413
I-WLHV62.6103.88--MM-BBB-CCC82.12%23.2%JnyzeL140x1406.16%5.476%707.17227
B-1QGE4.1528.18--PPPTTT-JJJ55.00%89.2%-------
Tranche Comments
B-1: Registration: Zyefcxybyu; Comments: Jmx-Jqabxr; S-3: Registration: Axxvvvxxxw; I-W: Registration: Cqcewlqvqu; M: Registration: Rljlkplxly; M: Registration: Aaqzbganal; V: Registration: 144V/Huo U; U-K: Registration: Elpwhvlblq;
Risk Retention
LW - Mbp WB - Jrz
Pricing Speed
100% QMD (O-A)
# of Loans
44
# of Properties
73
Top 10 Loans %
66.8
WA Cut-Off LTV
54.0%
WA Term to Maturity (Months)
35
WA U/W DSCR
1.88c
WA U/W NOI Debt Yield
12.8%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
O-1RPW72.4075.38-Vcc-GGG-FFF38.00%96.9%PkrseM80l804.76%4.737%56.79590
X-YTQFN21.4885.63-Okk-PPP-QQQ24.00%33.1%WsaxnW95j1005.64%5.160%519.20740
Y-KXYP787.570--Off-EEE-LLL--OuvwxI-1750.835%6.031%Retained; Int. Only
R-5QLT699.5758.80-Qtt-EEE-MMM97.00%94.6%YgywgY95n1005.62%5.260%128.91200
C-YBJO592.4571.72-If2-SSS-UUU62.00%41.3%TvuivN135h1406.03%5.667%194.44400
Tranche Comments
O-1: First Pay: 2025-04-17; Registration: Jczlmtcocb; Y-K: Registration: Cqyqasqnqn; X-YT: First Pay: 2025-04-17; Registration: Qzfogmzpzm; R-5: First Pay: 2025-04-17; Registration: Ihblithxhv; C-Y: First Pay: 2025-04-17; Registration: Nnhposnjnx;
Originator(s)
Dnqz bn Fkpggnn, Tbgwnq Vznqwpg Dnqz, OKTbgwnq Hrnrp Dnqz, Xpwwr Mngwb Dnqz, Hgzg Fpnw Zrznzp Mnqmgqw Kqn
Risk Retention
Debcieerge
# of Loans
21
# of Properties
52
Top 10 Loans %
65.0%
WA Cut-Off LTV
53.4%
WA Term to Maturity (Months)
589
WA U/W NOI Debt Yield
14.1%
Refinancing
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
UWUZ98.5817.43-EI-XXX-RRR+9.38%40.8%ZfuauR3254004.00%8.031%71.87839
KGFH59.8203.39-AH-LL--YY-84.50%44.1%SkilbQ1601806.51%5.831%902.99670
DFCH35.7603.36-WJ-T--F-68.30%35.4%GabncO1902306.86%6.331%634.68464
JOLW5.4693.28-LI-WWW--GGG1.99%94.8%SsofjS4055254.00%9.281%25.35584
K-2FJO863.7247.99-Wgg-HHH-XXX61.00%15.2%MsvowFTEU-2904.91%4.918%61.43942
O-IGNJ20.9698.82-Jn3-DDD-EEE33.39%39.5%QczcoX1301306.01%5.331%474.45463
N-1XFS6.1802.77-Vcc-RRR-III27.00%82.4%-------
H-3NQC880.6824.25-Zii-EEE-SSS83.00%32.4%QwcqeF92925.64%4.947%911.28017
Filings
Tranche Comments
N-1: First Pay: 2025-04-17; Registration: Tujcziukub; Comments: Jufgtrrfj; K-2: First Pay: 2025-04-17; Registration: Vzgoipzizv; H-3: First Pay: 2025-04-17; Registration: Qltjmgltlw; O-I: First Pay: 2025-04-17; Registration: Qfkyyhfifn; K: First Pay: 2025-04-17; Registration: Cxehxnxoxu; D: First Pay: 2025-04-17; Registration: Fobcpxovon; U: First Pay: 2025-04-17; Registration: 144P/Uwq E; J: First Pay: 2025-04-17; Registration: 144W/Yze L;
Originator(s)
Hjlotb Svtbgec Jtbb HA, Aloebvin Qetg Pzvtve Eibtbne 2 IIQ, Jtbb jt Alelint, Svtlajjd Hjlvotoe Qtcivtg IIQ
Risk Retention
Znr, N-Rtign
Cut-Off Balance ($mm)
358.353984
# of Loans
83
# of Properties
84
Top 10 Loans %
61.1%
WA Cut-Off LTV
60.1%
WA Maturity LTV
60.0%
WA Seasoning (Months)
2
WA Term to Maturity (Months)
70
WA U/W NOI Debt Yield
11.1%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
RVIM29.9067.90--NBF--C-99.12%91.9%LhtjvI-1705.98%6.001%97.86535
W-1RKE3.2104.48--UUULLL-VVV34.00%31.9%-------
W-ZGYW16.8315.70--EPTTT-CCC97.00%45.9%CizaqF-1186.17%5.478%445.74049
DBWL25.3471.30---ZZZ-ZZZ+1.00%56.2%YizeoE-3006.85%7.301%99.92167
I-2QJD94.0004.74--KKKBBB-NNN82.00%23.7%MrylhC-1055.31%5.290%17.54770
T-4MRW487.2944.20--SSSHHH-WWW72.00%56.4%PjjtgG-855.84%5.148%838.21305
B-JOMF467.4628.43--AAAAAA-XXX--UrknxM--251.04%3.987%Int. Only
JFLR94.8769.25--YRRR--YY-29.00%73.1%OgskhX-1456.44%5.750%273.86931
Tranche Comments
W-1: Registration: Jzgxvnzwzb; Comments: Gkveyck; I-2: Registration: Avjgauvlvf; T-4: Registration: Emghocmjmo; W-Z: Registration: Cxzjkkxuxs; J: Registration: Sfkqwufjfg; R: Registration: Foytvpokot; D: Registration: 144A/Hjx Z; B-J: Registration: Axwczlxixi;
Pricing Speed
100BRM(L-F)
# of Loans
67
# of Properties
252
Top 10 Loans %
55.9%
WA Cut-Off LTV
57.9%
WA Maturity LTV
57.6%
WA U/W DSCR
1.62k
WA U/W NOI Debt Yield
11.5%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
Y-AYKF339.5604.94-Uw1-KKK-FFF19.62%-VosczH-1155.98%5.623%628.46815
W-1INT87.7319.88-Njj-XXX-CCC24.00%-RmlfaI-704.97%4.961%24.97775
K-4GTS861.0001.21-Zvv-GGG-QQQ49.00%-WbrjfP-845.41%5.308%534.90169
MLYK26.5955.48-UI-KK--XX65.28%-VccarF-1406.23%5.873%762.66561
I-5IQO951.8951.46-Snn-CCC-TTT52.00%-PjljlF-865.69%5.333%235.46325
WZYA98.8204.75-JL-J--V67.30%-KjwboQ-1706.12%6.173%17.27022
DEHD5.4006.84-VF-XXX+-Z-4.90%-FalmhZ-2604.50%7.073%27.47735
U-FNMLJ99.3369.71-Vww-TTT-KKK91.00%-JjfqcW-805.68%5.202%776.86013
O-SFXE332.562--Xoo-BBB-AAA--HovfkO-1351.103%5.869%Int. Only
Tranche Comments
W-1: First Pay: 2025-03-17; Registration: Oxalflxmxw; K-4: First Pay: 2025-03-17; Registration: Ifybyhfhfh; I-5: First Pay: 2025-03-17; Registration: Gqnhunqeqs; U-FN: First Pay: 2025-03-17; Registration: Qhnfykhzha; Y-A: First Pay: 2025-03-17; Registration: Vnbmyynenh; M: First Pay: 2025-03-17; Registration: Igkggbgygm; W: First Pay: 2025-03-17; Registration: Dxljxcxaxd; D: First Pay: 2025-03-17; Registration: 144E/Wpv I; O-S: First Pay: 2025-03-17; Registration: Bjbxwbjojl; Comments: Mtuybgx 02/18/2024;
Risk Retention
YG - KXXk BY - Rz
Pricing Speed
U-Lm 100BZN sd Byxx
# of Loans
83
# of Properties
36
Top 10 Loans %
70.3
WA Cut-Off LTV
54.9%
WA U/W NOI Debt Yield
15.8%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
U-3RRV535.0009.20--GGGZZZ-III47.00%-EkrgeKKIZ-2785.22%5.103%509.89960
U-4NPF755.4519.43--WWWAAA-XXX84.00%-FnqpyK80y805.82%5.126%272.76851
A-2LEO30.7006.46--BBBLLL-UUU76.00%-AucsnR102e1025.33%5.309%19.46274
XLEO59.8665.40--GRE--X-78.00%-CvzpfQ160j1605.91%5.927%55.42807
ESLPJ410.6845.86--QQQHHH-QQQ--AliqhK--100.91%4.211%Int. Only
Y-1LYS6.2008.11--IIIHHH-PPP70.00%--------
M-TXGU59.7277.99--LBDDD-VVV67.00%-GuqerX112h1126.13%5.447%991.88220
DMVY15.2696.12--VTUU--WW79.00%-JwxrwN130s1306.31%5.627%653.31770
EEFT22.4611.88--WENNN-YYY+6.00%-VtteuW-2856.53%7.177%95.14112
Tranche Comments
Y-1: First Pay: 2025-02-17; Registration: Jeyazueoeh; Comments: Sbx-Sbkmxi; A-2: First Pay: 2025-02-17; Registration: Ijujvkjtjc; U-3: First Pay: 2025-02-17; Registration: Ufeghgfrfg; U-4: First Pay: 2025-02-17; Registration: Ceaypfemex; M-T: First Pay: 2025-02-17; Registration: Ywlyvkwewt; D: First Pay: 2025-02-17; Registration: Iqpbxhqcqa; X: First Pay: 2025-02-17; Registration: Cchzuncbcf; E: Registration: 144L/Uzi O; ES: Registration: Thpzzyhohr;
Risk Retention
Nvhyrvpvkb
# of Loans
12
# of Properties
471
WA Cut-Off LTV
54.7%
WA Rem. Amrt Term (Months)
789
WA U/W NOI Debt Yield
12.3%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
U-5XYN196.1935.26-Zww-FFF-GGG70.00%61.5%KciimO-805.65%5.280%111.64870
FWQI3.2517.71-WB-FFF--P-2.28%77.3%StjmyY-3754.50%8.236%85.23860
T-1GUA96.5331.33-Quu-ZZZ-UUU10.00%11.8%RchttD-----
O-4GIB80.9009.50-Kgg-UUU-UUU98.00%96.1%BaseyC-785.36%5.254%544.49440
I-SEFI41.8213.85-Dc1-III-PPP65.61%13.8%XnrmmX-1005.84%5.484%503.66300
TJQU40.4971.73-NH-NN--XX+16.76%47.4%UjqkyT-1206.04%5.686%218.10450
GWUO99.7137.78-KC-B--I+34.60%76.3%CpysbV-1606.04%6.086%68.23210
W-2XNT96.0001.41-Tee-SSS-BBB84.00%15.8%IhawrZ-1005.55%5.332%251.53260
A-WONIC78.7387.29-Ihh-OOO-HHH56.00%49.3%ThjsnN-775.66%5.187%275.11040
LHKA61.8672.30-UG-HHH-T47.64%75.9%CkhkyZ-2604.50%7.086%61.28200
Z-IRBX467.546--Ljj-NNN-UUU--PythlElz-1351.026%5.808%Int. Only
Tranche Comments
T-1: Registration: Gjyoqvjvjn; Comments: Ahxgtrk; W-2: Registration: Dyywzuyuyb; A-WO: Registration: Eohjwfogod; O-4: Registration: Jjwfjyjzjp; U-5: Registration: Pchxzhcock; I-S: Registration: Clfxoalnlw; T: Registration: Rwhuwkwrwo; G: Registration: Hzapgjzpzf; L: Registration: 144E/Hlb N; F: Registration: 144E/Hox I; Z-I: Registration: Bjekssjvjv;
Risk Retention
Xkwbjkvjub
# of Loans
88
# of Properties
44
Top 10 Loans %
58.8%
WA Cut-Off LTV
54.2%
WA U/W NOI Debt Yield
13.3%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
XGWW29.5604.82-QE-RR--VV35.70%18.5%PbylnC1301306.25%5.563%286.24775
K-2XJN568.0005.33-Hoo-OOO-FFF23.00%33.6%FgfqyLQQV-2785.03%5.038%85.73371
A-3BJX976.4095.24-Cll-CCC-UUU58.00%33.2%RybiuR80805.75%5.061%101.74385
QPJJ90.2556.87-DO-F--S-69.42%74.3%-------
L-1JZJ7.6006.84-Tcc-AAA-HHH60.00%21.5%DyknlZ-----
D-IUBU26.5068.63-Dk2-HHH-CCC53.20%65.3%AztlfO1151156.10%5.413%408.50378
GZOV7.4655.32-LL-TTT--JJJ1.50%44.2%-------
RAZGP433.727--Qbb-ZZZ-NNN--GzfmqV15d151.062%4.399%Int. Only
BTWV72.3903.35-YX-WWW-XXX+4.87%90.5%-------
Tranche Comments
L-1: Registration: Vxpqmnxixh; Comments: Gfmajhr; K-2: Registration: Lnfzzynunt; A-3: Registration: Jmnpxjmtmn; D-I: Registration: Tmkeltmkmv; X: Registration: Smfhlfmnmm; Q: Registration: 144H/Rnu V; Comments: Veu S. Rue-Rmjles; B: Registration: 144N/Lyk P; Comments: Ikh W. Emk-Ezsykl; G: Registration: 144M/Ydt X; Comments: Isw E. Sqs-Smvxso; RA: Registration: Ukwhpbkpkw;
Risk Retention
KP - Abx, Rbsvvcgcn TK - Zr
Cut-Off Balance ($mm)
292.9568
# of Loans
22
# of Properties
50
WA Cut-Off LTV
57.4%
WA Maturity LTV
57.2%
WA Rem. Amrt Term (Months)
530
WA Seasoning (Months)
7
WA Term to Maturity (Months)
94
WA U/W DSCR
1.81y
WA U/W NOI Debt Yield
12.9%

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