Surveillance Review of 29 Freddie Mac CMBS Transactions - Press Release Appendix

DBRS, Inc. (DBRS Morningstar) conducted its surveillance review of 80 classes from 14 Freddie Mac commercial mortgage-backed security (CMBS) transactions, 35 classes from 13 Freddie Mac Structured Pass-Through Certificate transactions, and nine classes from two ReREMIC transactions collateralized by underlying Freddie Mac CMBS transactions. DBRS Morningstar confirmed its ratings on 109 classes across all of the transactions; upgraded its ratings on 14 classes across seven transactions; and discontinued its rating for the Multifamily Mortgage Pass-Through Certificates, Series 2014-K717, Class B as it was repaid per the September 2021 remittance report. The rating confirmations reflect the transactions’ overall stable performance, which has generally remained in line with DBRS Morningstar’s expectations at issuance. The rating upgrades were primarily the result of increased defeasance, loan payoffs, and amortization since issuance. As a result of this review, 119 classes have Stable trends and four classes have Positive trends.