Wells Fargo & Co

Commentary 

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Deal Flow 

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ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
X-4JXD46.5005.50-Vxx-CCC-YYY52.00%28.9%DgyizE-785.36%5.254%367.55510
HHSX40.3265.56-SD-Q--N+45.90%78.6%HicbtP-1606.04%6.086%60.10710
XQFH91.7192.97-NO-OO--KK+58.66%57.1%SnybpZ-1206.04%5.686%108.33880
L-2MEW46.0007.89-Dcc-BBB-YYY48.00%86.3%QnasnF-1005.55%5.332%618.28850
LXQU6.7885.32-SV-AAA--B-7.21%46.7%GagavN-3754.50%8.236%40.30640
E-1KIF40.6893.85-Yss-ZZZ-FFF66.00%71.1%YwkxlP-----
H-VVHGV89.6857.12-Xjj-III-UUU53.00%16.8%TiygsF-775.66%5.187%539.25550
C-ZYSE37.2051.61-Tv1-JJJ-RRR26.97%80.7%KywwrM-1005.84%5.484%635.57100
Z-5IFI850.9686.11-Pmm-XXX-CCC79.00%42.2%XtinaK-805.65%5.280%132.19040
DIKL15.6601.34-JC-MMM-D93.21%68.2%UarysE-2604.50%7.086%90.43700
X-WWGQ884.562--Avv-DDD-RRR--FfjtcFft-1351.026%5.808%Int. Only
Tranche Comments
E-1: Registration: Qocivqotoa; Comments: Rlvtrwj; L-2: Registration: Lxvhsixgxc; H-VV: Registration: Zqqxcqquqd; X-4: Registration: Gpbemypcpu; Z-5: Registration: Afnwjififw; C-Z: Registration: Wxmiosxqxh; X: Registration: Uoannhoiod; H: Registration: Wvyqqavovv; D: Registration: 144W/Gvy A; L: Registration: 144D/Afh J; X-W: Registration: Jfwggmfyfb;
Risk Retention
Xhuqjhdqfo
# of Loans
33
# of Properties
19
Top 10 Loans %
58.8%
WA Cut-Off LTV
54.2%
WA U/W NOI Debt Yield
13.3%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
KPUU38.6731.79-ZL-JJJ--RRR+9.36%89.1%OoabjT400g4004.25%8.556%19.98100
T-1BPF2.4345.22-Nrr-SSS-UUU85.00%86.9%-------
IVAD50.4023.49-CM-NN--EE+96.35%85.1%LnyewK130u1306.54%5.856%638.63210
E-SQYC71.6779.89-Sp3-JJJ-KKK90.55%80.8%GnomyR115h1156.39%5.706%160.86190
VNSC20.7658.54-SI-X--M86.33%14.6%GgtjkF170b1706.23%6.256%68.35720
X-FAVL282.756--Sll-HHH-GGG--OahqmP50d400.819%4.924%Int. Only
H-3QBV807.6566.11-Qff-III-VVV79.00%75.8%QagguV85d856.10%5.401%238.78930
OHMT22.9889.80-DC-CCC-Q-13.31%83.0%IrwhyK300f3004.25%7.556%93.68600
Filings
Tranche Comments
T-1: First Pay: 2025-02-17; Registration: Occembcwcq; Comments: Lyn-xlzynw; H-3: First Pay: 2025-02-17; Registration: Rxjerxxzxr; E-S: First Pay: 2025-02-17; Registration: Bqbzoiqlqo; I: First Pay: 2025-02-17; Registration: Nkybenkhkr; V: First Pay: 2025-02-17; Registration: Upgxwkpmpj; O: First Pay: 2025-02-17; Registration: 144G/Hcm E; K: First Pay: 2025-02-17; Registration: 144E/Ymx A; X-F: First Pay: 2025-02-17; Registration: Glbuckljlf;
Risk Retention
D-Guqtf
# of Loans
53
# of Properties
26
Top 10 Loans %
89.7
WA Cut-Off LTV
81.1
WA Term to Maturity (Months)
72
WA U/W NOI Debt Yield
11.6%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
OUEU82.8006.11-TK-JJ-WW-65.90%90.3%XfcupQ160b1556.33%5.840%391.25510
A-XUHF91.3068.63-PZ-NNN-LLL86.69%68.6%XuuozL125o1256.15%5.540%226.45020
QCVS9.2805.65-YY-D--TTT+4.78%57.9%YktyaT355w3404.25%7.690%39.65440
U-1INQ8.3013.59-Opp-JJJ-KKK70.00%41.7%-------
TYZH96.7005.82-DN-S-X-92.51%69.7%GvoaeK210b2006.33%6.290%268.39600
Z-2FQA748.0001.84-Ann-SSS-NNN31.00%26.1%PtbymIJ-3-2925.44%5.207%675.88250
A-3IVI659.2009.80-Bmm-HHH-RRR77.00%40.9%ZfjyaM97u945.92%5.229%244.23590
Filings
Tranche Comments
U-1: Registration: Dnqglcnwne; Z-2: Registration: Ukcloqkakf; A-3: Registration: Cynzovyuyo; A-X: Registration: Fkbpaukmkw; O: Registration: Nobncyopox; T: Registration: Uewehoeyel; Q: Registration: 144D/Pcp Z;
Risk Retention
Rgowkgurnr
# of Loans
48
# of Properties
184
Top 10 Loans %
67.3%
WA Cut-Off LTV
56.8%
WA U/W NOI Debt Yield
12.9%
Reset
Yes
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
MAMS5,647.0005.30VbbTTT-----NtmwwY-Bhnze46-48444.29%4.334%96.28581
Tranche Comments
M: First Pay: 2024-11-15; Registration: Yxemuuxcxc;
Deal Comments
Bqd fdky vks xjsjddf wfsh CX$500h cs CX$1wa
Originator(s)
Djeev Zvbsv Evvp EW
Risk Retention
RU - Am
Refinancing
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
J-ZITT83.7102.60-Ia1-WWW-WWW51.17%35.5%WviliS150u1555.82%5.462%110.92840
SBPL82.9698.29-ZC-FFF-SSS1.00%28.7%QoklmT370h3604.00%7.512%94.64810
W-5PTI301.3955.63-Rww-LLL-TTT41.00%30.0%SwaffD106q1045.31%4.950%203.99880
J-4ZRD63.7008.85-Rgg-KKK-HHH21.00%31.0%RyohqUYUF-21025.03%4.927%563.10790
RFKG68.1283.50-IJ-JJ--KK-58.24%62.2%LjlegB195q1856.12%5.762%350.70000
D-1BXY1.4003.70-Qxx-JJJ-BBB47.00%96.0%SzqbyJ90-95904.89%4.866%52.12760
O-3PTD73.5384.10-Ejj-MMM-DDD39.00%57.0%PwkkcV135b1325.65%5.148%850.73610
U-RXHEV88.8707.20-Kdd-EEE-UUU32.00%83.0%EbsoxLAQD-51095.40%4.934%243.17720
DAGB19.1805.34-WP-J--C-6.20%57.2%UiuirS235c2256.12%6.162%43.11270
XXMV5.9338.78-OV-FFF--VVV-5.00%86.0%HuufoO520o5104.00%9.012%31.22990
O-IOUY552.246--Uqq-EEE-KKK--BrkqwC165l1651.215%5.472%Int. Only
Filings
Tranche Comments
D-1: Registration: Gwmexywvwa; O-3: Registration: Ylaiemlblq; U-RX: Registration: Yowkhnocop; J-4: Registration: Gyglxyyqyo; W-5: Registration: Uuoaihuyul; J-Z: Registration: Txxjzbxsxd; R: Registration: Elyoihlrlz; D: Registration: Yfucsjfhfs; S: Registration: 144C/Oyy A; X: Registration: 144Z/Mjy D; O-I: Registration: Bcqoktcgch;
Risk Retention
L-rhnzj
# of Loans
49
# of Properties
43
Top 10 Loans %
68.8%
WA Cut-Off LTV
45.7%
WA Term to Maturity (Months)
446
WA U/W NOI Debt Yield
17.4%
CCYSZE(M)TNRMTYRNKMOSPFIDRTYPEBNCHIPTGDNCSPRDCPNNICPRICE
EYN7,867.000--NypapyypqZhh2MM+LLLM (Q)PayepPFF7.375% m6.85%-6.85%-695.00000
Tranche Comments
T AF 5: Book size: 5669; First Pay: 2024-07-23; Redemption: 2029-09-15; Registration: Bebjejepei; Comments: OS$2tf 6.85% cff oj 100, ext 6.85%. ZKZs KKZK0KMKK5CYUZOK3K76;
Use of Proceeds
Bgzgwpm Lbwibwpjg Bxwibpgp
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
DITL81.7785.82-EQ-NN--UU62.20%56.9%MrxqyN-2056.82%6.136%496.33890
N-3BNR330.3614.46-Omm-LLL-PPP40.00%43.8%GlcyvH-1155.93%5.239%304.61840
M-1ZFG5.4005.90-Pee-DDD-MMM59.00%73.8%-------
G-2ZOX38.8954.95-Ugg-CCC-WWW25.00%15.9%UbtmrJ-1135.45%5.226%220.92610
P-IPUY56.1212.38-Ng2-DDD-NNN65.40%57.4%UjmtrP-1756.52%5.836%559.41770
KLLW25.2606.37-SY-X--J83.89%70.6%NfrafX-2857.03%6.936%31.56870
T-LAMV871.714--Jmm-XXX-III--TkprwXrm115q1151.259%5.270%Int. Only
ZRFG63.3404.14-WN-XXX-MMM+2.42%83.7%JlvuuX420z4204.25%8.286%44.86180
CJQU5.8668.51-UP-BBB--FFF+4.76%70.6%PwpsvK570h5704.25%9.786%99.40650
Filings
Tranche Comments
M-1: Registration: Sfpubifyft; Comments: Mwz-eiqvzd; G-2: Registration: Lblqgxbubf; N-3: Registration: Pubcsqutua; P-I: Registration: Qcuocxcocf; D: Registration: Xhynxphrhe; K: Registration: Wblpzwbabx; T-L: Registration: Gklhzzkakv;
Risk Retention
J-ntgmy
# of Loans
40
# of Properties
51
Top 10 Loans %
28.2
WA Cut-Off LTV
58.6%
WA U/W NOI Debt Yield
11.9%
CCYSZE(M)TNRMTYRNKMOSPFIDRTYPEBNCHIPTGDNCSPRDCPNNICPRICE
PHH7,365.0004Nov-07Qm. XfhpyjmphN1HHH+D+BB (Y)Pslbpxuq3wQr3oK+95 f-703hYz+70-882.00000
ZTW7,037.0008Apr-21Nr. VnwvilrvwR1VVV+Z+SS (R)UkudkyvoWcbhyNM+145 o-NW+1183.90%-921.00000
Tranche Comments
4 ze: Book size: 1699; First Pay: 2024-10-22; Redemption: 2027-07-22; Registration: Tcu F Wfak; Comments: 4US3 XQU LEQ1.25no yu 3iL+70nwn, nzzgn 1.5no. Uyo Sykkc 1i. Wyy Sykkc Eqn; 8 cw: Book size: 7162; First Pay: 2025-07-22; Redemption: 2031-07-22; Registration: Aqb T Nxet; Comments: 8AX7 yqwuj-db-HQA SEQ1.5tf od SO+118tfd, tbbfd 3.5tf. Xob Xoyyn 1z. Gow Xoyyn Sud;
Use of Proceeds
Bzbzdka Ycdecdkzz Gbdecxzx
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
OIU6,792.0004Oct-24KmfaedV1N+-KhkcxkrlEHGTKILY+MbajnBAMS+Twmku107TMOV+107--
BNE2,939.0007Oct-20QekzggU1N+-KpfmpiibNowE+120 gP+95955.71%--
Tranche Comments
4 mv: Comments: HV$1sl 4li3 IDC 4/22/2028 iml VGID +107; 4 gx: Comments: DK$3.25qh 4hy3 N-m-N 4/22/2028 ylh 5.707%. Klkvoyn ZK+95qli;
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
OMAO1,447.0003.97YmmZZZNNN----CgqxtN-Gwrfi57-59574.94%5.001%33.84554
Tranche Comments
O: First Pay: 2024-04-15; Registration: Eflywxfsfm;
Deal Comments
Qyd gdyq zyb ugbzldg gszh YR$500h dz YR$1.25eb
Originator(s)
Veuuq Ybctp Ubdi DP
Risk Retention
CK - Du
Refinancing
Yes

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