EX-99.1 2 bmk23b40_ex991-202412.htm bmk23b40_ex991-202412.htm - Generated by SEC Publisher for SEC Filing

 

     

Distribution Date:

12/17/24

Benchmark 2023-B40 Mortgage Trust

Determination Date:

12/11/24

 

Next Distribution Date:

01/17/25

 

Record Date:

11/29/24

Commercial Mortgage Pass-Through Certificates

 

 

Series 2023-B40

 

         

Table of Contents

 

 

Contacts

 

Section

Pages

Role

Party and Contact Information

 

Certificate Distribution Detail

2

Depositor

J.P. Morgan Chase Commercial Mortgage Securities Corp.

 

Certificate Factor Detail

3

 

Attention: Kunal K. Singh

US_CMBS_Notice@jpmorgan.com

Certificate Interest Reconciliation Detail

4

 

383 Madison Avenue, 8th Floor | New York, NY 10179 | United States

 

 

 

Certificate Administrator

Computershare Trust Company, N.A.

 

Additional Information

5

 

 

 

 

 

 

Corporate Trust Services (CMBS)

cctcmbsbondadmin@computershare.com;

Bond / Collateral Reconciliation - Cash Flows

6

 

 

trustadministrationgroup@computershare.com

Bond / Collateral Reconciliation - Balances

7

 

9062 Old Annapolis Road | Columbia, MD 21045 | United States

 

Current Mortgage Loan and Property Stratification

8-12

Master Servicer

Midland Loan Services, a Division of PNC Bank, National

 

 

 

 

Association

 

Mortgage Loan Detail (Part 1)

13

 

Attention: Executive Vice President – Division Head

NoticeAdmin@midlandls.com;

Mortgage Loan Detail (Part 2)

14

 

 

AskMidland@midlandls.com

 

 

 

10851 Mastin Street, Building 82, Suite 700 | Overland Park, KS 66210 | United States

 

Principal Prepayment Detail

15

 

 

 

 

 

Special Servicer

LNR Partners, LLC

 

Historical Detail

16

 

 

 

 

 

 

Heather Bennett and Job Warshaw

hbennett@starwood.com; jwarshaw@lnrpartners.com

Delinquency Loan Detail

17

 

 

and lnr.cmbs.notices@lnrproperty.com

Collateral Stratification and Historical Detail

18

 

2340 Collins Avenue, Suite 700 | Miami Beach, FL 33139 | United States

 

 

 

Operating Advisor & Asset

Pentalpha Surveillance LLC

 

Specially Serviced Loan Detail - Part 1

19

Representations Reviewer

 

 

Specially Serviced Loan Detail - Part 2

20

 

Attention: Benchmark 2023-B40—Transaction Manager

notices@pentalphasurveillance.com

Modified Loan Detail

21

 

501 John James Audubon Parkway, Suite 401 | Amherst, NY 14228 | United States

 

Historical Liquidated Loan Detail

22

Trustee

Computershare Trust Company, N.A.

 

Historical Bond / Collateral Loss Reconciliation Detail

23

 

Corporate Trust Services (CMBS)

cctcmbsbondadmin@computershare.com;

 

 

 

 

trustadministrationgroup@computershare.com

Interest Shortfall Detail - Collateral Level

24

 

9062 Old Annapolis Road | Columbia, MD 21045 | United States

 

Supplemental Notes

25

Directing Certificateholder

Eightfold Real Estate Capital, L.P.

 

 

 

 

-

 

 

This report is compiled by Computershare Trust Company, N.A. from information provided by third parties. Computershare Trust Company, N.A. has not independently confirmed the accuracy of the information.

Please visit www.ctslink.com for additional information and if applicable, any special notices and any credit risk retention notices. In addition, certificate holders may register online for email notification when special notices are posted. For information or assistance please call 866-846-4526.

   

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Page 1 of 25

 


 

 

                         

 

 

 

 

Certificate Distribution Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

Original

 

 

Pass-Through

 

 

Principal

Interest

Prepayment

 

 

 

Credit

Credit

Class

CUSIP

Rate (2)

Original Balance                                      Beginning Balance

Distribution

Distribution

Penalties

Realized Losses            Total Distribution                 Ending Balance

Support¹        Support¹

 

A-1

08163WAA3

5.943000%

3,687,000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

30.00%

A-2

08163WAB1

6.930200%

159,218,000.00

152,828,052.21

63,886.45

882,607.47

0.00

0.00

946,493.92

152,764,165.76

30.68%

30.00%

A-5

08163WAC9

6.053700%

153,802,000.00

153,802,000.00

0.00

775,892.64

0.00

0.00

775,892.64

153,802,000.00

30.68%

30.00%

A-SB

08163WAD7

6.253300%

5,422,000.00

5,422,000.00

0.00

28,254.49

0.00

0.00

28,254.49

5,422,000.00

30.68%

30.00%

A-S

08163WAE5

6.594500%

46,018,000.00

46,018,000.00

0.00

252,888.08

0.00

0.00

252,888.08

46,018,000.00

20.45%

20.00%

B

08163WAF2

6.580500%

21,859,000.00

21,859,000.00

0.00

119,869.29

0.00

0.00

119,869.29

21,859,000.00

15.59%

15.25%

C

08163WAG0

7.405661%

16,681,000.00

16,681,000.00

0.00

102,944.86

0.00

0.00

102,944.86

16,681,000.00

11.89%

11.63%

D

08163WAK1

4.000000%

11,505,000.00

11,505,000.00

0.00

38,350.00

0.00

0.00

38,350.00

11,505,000.00

9.33%

9.13%

E

08163WAM7

4.000000%

5,177,000.00

5,177,000.00

0.00

17,256.67

0.00

0.00

17,256.67

5,177,000.00

8.18%

8.00%

F

08163WAP0

5.235200%

11,505,000.00

11,505,000.00

0.00

50,192.48

0.00

0.00

50,192.48

11,505,000.00

5.62%

5.50%

G*

08163WAR6

5.235200%

8,053,000.00

8,053,000.00

0.00

35,132.55

0.00

0.00

35,132.55

8,053,000.00

3.83%

3.75%

H

08163WAT2

5.235200%

17,257,368.00

17,257,368.00

0.00

75,268.74

0.00

0.00

75,268.74

17,257,368.00

0.00%

0.00%

RR

08163WBJ3

7.658661%

12,660,000.00

12,382,775.98

1,757.56

79,029.04

0.00

0.00

80,786.60

12,381,018.42

0.00%

0.00%

RR Interest

N/A

7.658661%

11,560,230.00

11,307,088.34

1,604.88

72,163.81

0.00

0.00

73,768.69

11,305,483.46

0.00%

0.00%

R

08163WAV7

0.000000%

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00%

0.00%

Regular Subtotal

 

484,404,598.00

473,797,284.53

67,248.89

2,529,850.12

0.00

0.00

2,597,099.01

473,730,035.64

 

 

 

 

X-A

08163WAH8

1.172226%

322,129,000.00

312,052,052.22

0.00

304,829.54

0.00

0.00

304,829.54

311,988,165.76

 

 

X-B

08163WAJ4

0.907760%

84,558,000.00

84,558,000.00

0.00

63,965.33

0.00

0.00

63,965.33

84,558,000.00

 

 

X-D

08163WAX3

3.658661%

16,682,000.00

16,682,000.00

0.00

50,861.49

0.00

0.00

50,861.49

16,682,000.00

 

 

X-F

08163WAZ8

2.423461%

11,505,000.00

11,505,000.00

0.00

23,234.94

0.00

0.00

23,234.94

11,505,000.00

 

 

X-G

08163WBB0

2.423461%

8,053,000.00

8,053,000.00

0.00

16,263.44

0.00

0.00

16,263.44

8,053,000.00

 

 

X-H

08163WBD6

2.423461%

17,257,368.00

17,257,368.00

0.00

34,852.14

0.00

0.00

34,852.14

17,257,368.00

 

 

Notional Subtotal

 

460,184,368.00

450,107,420.22

0.00

494,006.88

0.00

0.00

494,006.88

450,043,533.76

 

 

 

Deal Distribution Total

 

 

 

67,248.89

3,023,857.00

0.00

0.00

3,091,105.89

 

 

 

 

*

Denotes the Controlling Class (if required)

 

 

 

 

 

 

 

 

 

 

(1)

Calculated by taking (A) the sum of the ending certificate balance of all classes in a series less (B) the sum of (i) the ending certificate balance of the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class and

 

dividing the result by (A).

 

 

 

 

 

 

 

 

 

 

 

(2)

Pass-Through Rates with respect to any Class of Certificates on next month’s Payment Date is expected to be the same as the current respective Pass-Through Rate, subject to any modifications on the underlying loans, any change in certificate or pool balance, any change in

 

the underlying index (if and as applicable), and any other matters provided in the governing documents.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 2 of 25

 


 

 

                     

 

 

 

 

Certificate Factor Detail

 

 

 

 

 

 

 

 

 

Cumulative

 

 

 

 

 

 

 

 

 

Interest Shortfalls

Interest

 

 

 

 

Class

CUSIP

Beginning Balance

Principal Distribution

Interest Distribution

/ (Paybacks)

Shortfalls

Prepayment Penalties

     Losses

     Total Distribution

     Ending Balance

Regular Certificates

 

 

 

 

 

 

 

 

 

A-1

08163WAA3

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

A-2

08163WAB1

959.86667469

0.40125143

5.54339001

0.00000000

0.00000000

0.00000000

0.00000000

5.94464144

959.46542326

A-5

08163WAC9

1,000.00000000

0.00000000

5.04475000

0.00000000

0.00000000

0.00000000

0.00000000

5.04475000

1,000.00000000

A-SB

08163WAD7

1,000.00000000

0.00000000

5.21108263

0.00000000

0.00000000

0.00000000

0.00000000

5.21108263

1,000.00000000

A-S

08163WAE5

1,000.00000000

0.00000000

5.49541658

0.00000000

0.00000000

0.00000000

0.00000000

5.49541658

1,000.00000000

B

08163WAF2

1,000.00000000

0.00000000

5.48374994

0.00000000

0.00000000

0.00000000

0.00000000

5.48374994

1,000.00000000

C

08163WAG0

1,000.00000000

0.00000000

6.17138421

0.00000000

0.00000000

0.00000000

0.00000000

6.17138421

1,000.00000000

D

08163WAK1

1,000.00000000

0.00000000

3.33333333

0.00000000

0.00000000

0.00000000

0.00000000

3.33333333

1,000.00000000

E

08163WAM7

1,000.00000000

0.00000000

3.33333398

0.00000000

0.00000000

0.00000000

0.00000000

3.33333398

1,000.00000000

F

08163WAP0

1,000.00000000

0.00000000

4.36266667

0.00000000

0.00000000

0.00000000

0.00000000

4.36266667

1,000.00000000

G

08163WAR6

1,000.00000000

0.00000000

4.36266609

0.00000000

0.00000000

0.00000000

0.00000000

4.36266609

1,000.00000000

H

08163WAT2

1,000.00000000

0.00000000

4.36154227

0.00112474

0.03745936

0.00000000

0.00000000

4.36154227

1,000.00000000

RR

08163WBJ3

978.10236809

0.13882780

6.24242022

0.00004186

0.00142417

0.00000000

0.00000000

6.38124803

977.96354028

RR Interest

N/A

978.10236821

0.13882769

6.24241992

0.00004239

0.00142558

0.00000000

0.00000000

6.38124760

977.96354052

R

08163WAV7

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

0.00000000

 

Notional Certificates

 

 

 

 

 

 

 

 

 

X-A

08163WAH8

968.71766348

0.00000000

0.94629648

0.00000000

0.00000000

0.00000000

0.00000000

0.94629648

968.51933778

X-B

08163WAJ4

1,000.00000000

0.00000000

0.75646692

0.00000000

0.00000000

0.00000000

0.00000000

0.75646692

1,000.00000000

X-D

08163WAX3

1,000.00000000

0.00000000

3.04888443

0.00000000

0.00000000

0.00000000

0.00000000

3.04888443

1,000.00000000

X-F

08163WAZ8

1,000.00000000

0.00000000

2.01955150

0.00000000

0.00000000

0.00000000

0.00000000

2.01955150

1,000.00000000

X-G

08163WBB0

1,000.00000000

0.00000000

2.01955048

0.00000000

0.00000000

0.00000000

0.00000000

2.01955048

1,000.00000000

X-H

08163WBD6

1,000.00000000

0.00000000

2.01955130

0.00000000

0.00000000

0.00000000

0.00000000

2.01955130

1,000.00000000

 

 

 

 

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Page 3 of 25

 


 

 

                         

 

 

 

 

Certificate Interest Reconciliation Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

Accrued

Net Aggregate

Distributable

Interest

 

Interest

 

 

 

 

 

Accrual

Prior Interest

Certificate

Prepayment

Certificate

Shortfalls /

Payback of Prior

Distribution

Interest

Cumulative

 

Class

Accrual Period

Days

Shortfalls

    Interest

Interest Shortfall

Interest

(Paybacks)

Realized Losses

    Amount

Distribution

Interest Shortfalls

 

A-1

N/A

N/A

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

 

A-2

11/01/24 - 11/30/24

30

0.00

882,607.47

0.00

882,607.47

0.00

0.00

0.00

882,607.47

0.00

 

A-5

11/01/24 - 11/30/24

30

0.00

775,892.64

0.00

775,892.64

0.00

0.00

0.00

775,892.64

0.00

 

A-SB

11/01/24 - 11/30/24

30

0.00

28,254.49

0.00

28,254.49

0.00

0.00

0.00

28,254.49

0.00

 

X-A

11/01/24 - 11/30/24

30

0.00

304,829.54

0.00

304,829.54

0.00

0.00

0.00

304,829.54

0.00

 

X-B

11/01/24 - 11/30/24

30

0.00

63,965.33

0.00

63,965.33

0.00

0.00

0.00

63,965.33

0.00

 

X-D

11/01/24 - 11/30/24

30

0.00

50,861.49

0.00

50,861.49

0.00

0.00

0.00

50,861.49

0.00

 

X-F

11/01/24 - 11/30/24

30

0.00

23,234.94

0.00

23,234.94

0.00

0.00

0.00

23,234.94

0.00

 

X-G

11/01/24 - 11/30/24

30

0.00

16,263.44

0.00

16,263.44

0.00

0.00

0.00

16,263.44

0.00

 

X-H

11/01/24 - 11/30/24

30

0.00

34,852.14

0.00

34,852.14

0.00

0.00

0.00

34,852.14

0.00

 

A-S

11/01/24 - 11/30/24

30

0.00

252,888.08

0.00

252,888.08

0.00

0.00

0.00

252,888.08

0.00

 

B

11/01/24 - 11/30/24

30

0.00

119,869.29

0.00

119,869.29

0.00

0.00

0.00

119,869.29

0.00

 

C

11/01/24 - 11/30/24

30

0.00

102,944.86

0.00

102,944.86

0.00

0.00

0.00

102,944.86

0.00

 

D

11/01/24 - 11/30/24

30

0.00

38,350.00

0.00

38,350.00

0.00

0.00

0.00

38,350.00

0.00

 

E

11/01/24 - 11/30/24

30

0.00

17,256.67

0.00

17,256.67

0.00

0.00

0.00

17,256.67

0.00

 

F

11/01/24 - 11/30/24

30

0.00

50,192.48

0.00

50,192.48

0.00

0.00

0.00

50,192.48

0.00

 

G

11/01/24 - 11/30/24

30

0.00

35,132.55

0.00

35,132.55

0.00

0.00

0.00

35,132.55

0.00

 

H

11/01/24 - 11/30/24

30

624.32

75,288.14

0.00

75,288.14

19.41

0.00

0.00

75,268.74

646.45

 

RR

11/01/24 - 11/30/24

30

17.39

79,029.57

0.00

79,029.57

0.53

0.00

0.00

79,029.04

18.03

 

RR Interest

11/01/24 - 11/30/24

30

15.89

72,164.30

0.00

72,164.30

0.49

0.00

0.00

72,163.81

16.48

 

Totals

 

 

657.60

3,023,877.42

0.00

3,023,877.42

20.43

0.00

0.00

3,023,857.00

680.96

 

 

 

 

 

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Page 4 of 25

 


 

 

     

 

Additional Information

 

 

Total Available Distribution Amount (1)

3,091,105.89

 

Non-VRR Available Funds

2,936,550.61

 

VRR Available Funds

154,555.30

 

(1) The Available Distribution Amount includes any Prepayment Premiums.

 

 

 

 

 

 

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Page 5 of 25

 


 

 

       

Bond / Collateral Reconciliation - Cash Flows

 

 

Total Funds Collected

 

Total Funds Distributed

 

Interest

 

Fees

 

Interest Paid or Advanced

3,035,619.09

Master Servicing Fee

1,389.16

Interest Reductions due to Non recoverability Determination

0.00

Certificate Administrator Fee

7,462.31

Interest Adjustments

0.00

Trustee Fee

0.00

Deferred Interest

0.00

CREFC® Intellectual Property Royalty License Fee

197.42

ARD Interest

0.00

Operating Advisor Fee

2,574.30

Net Prepayment Interest Excess / (Shortfall)

0.00

Asset Representations Reviewer Fee

118.45

Extension Interest

0.00

 

 

Interest Reserve Withdrawal

0.00

 

 

Total Interest Collected

3,035,619.09

Total Fees

11,741.63

 

Principal

 

Expenses/Reimbursements

 

Scheduled Principal

67,248.90

Reimbursement for Interest on Advances

0.00

Unscheduled Principal Collections

 

ASER Amount

0.00

Principal Prepayments

0.00

Special Servicing Fees (Monthly)

0.00

Collection of Principal after Maturity Date

0.00

Special Servicing Fees (Liquidation)

0.00

Recoveries From Liquidations and Insurance Proceeds

0.00

Special Servicing Fees (Work Out)

0.00

Excess of Prior Principal Amounts Paid

0.00

Legal Fees

20.43

Curtailments

0.00

Rating Agency Expenses

0.00

Principal Adjustments

0.00

Taxes Imposed on Trust Fund

0.00

 

 

Non-Recoverable Advances

0.00

 

 

Workout Delayed Reimbursement Amounts

0.00

 

 

Other Expenses

0.00

Total Principal Collected

67,248.90

Total Expenses/Reimbursements

20.43

 

 

 

Interest Reserve Deposit

0.00

 

Other

 

Payments to Certificate holders and Others

 

Prepayment Penalties / Yield Maintenance

0.00

Interest Distribution

3,023,857.00

Gain on Sale / Excess Liquidation Proceeds

0.00

Principal Distribution

67,248.89

Borrower Option Extension Fees

0.00

Prepayment Penalties / Yield Maintenance

0.00

 

 

Borrower Option Extension Fees

0.00

 

Total Other Collected

0.00

Total Payments to Certificateholders and Others

3,091,105.89

Total Funds Collected

3,102,867.99

Total Funds Distributed

3,102,867.95

 

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Page 6 of 25

 


 

 

           

 

 

Bond / Collateral Reconciliation - Balances

 

 

 

 

Collateral Reconciliation

 

Certificate Reconciliation

 

 

 

 

      Total

 

        Total

Beginning Scheduled Collateral Balance

473,797,284.76

473,797,284.76

Beginning Certificate Balance

473,797,284.53

(-) Scheduled Principal Collections

67,248.90

67,248.90

(-) Principal Distributions

67,248.89

(-) Unscheduled Principal Collections

0.00

0.00

(-) Realized Losses

0.00

(-) Principal Adjustments (Cash)

0.00

0.00

Realized Loss and Realized Loss Adjustments on Collateral

0.00

(-) Principal Adjustments (Non-Cash)

0.00

0.00

Current Period NRA¹

0.00

(-) Realized Losses from Collateral

0.00

0.00

Current Period WODRA¹

0.00

(-) Other Adjustments²

0.00

0.00

Principal Used to Pay Interest

0.00

 

 

 

 

Non-Cash Principal Adjustments

0.00

Ending Scheduled Collateral Balance

473,730,035.86

473,730,035.86

Certificate Other Adjustments**

0.00

Beginning Actual Collateral Balance

473,797,284.76

473,797,284.76

Ending Certificate Balance

473,730,035.64

Ending Actual Collateral Balance

473,730,035.86

473,730,035.86

 

 

 

 

 

 

 

                  NRA/WODRA Reconciliation

 

Under / Over Collateralization Reconciliation

 

 

 

           Non-Recoverable Advances (NRA) from

          Workout Delayed Reimbursement of Advances

 

 

 

 

                      Principal

                 (WODRA) from Principal

Beginning UC / (OC)

(0.23)

Beginning Cumulative Advances

0.00

0.00

UC / (OC) Change

0.01

Current Period Advances

0.00

0.00

Ending UC / (OC)

(0.22)

Ending Cumulative Advances

0.00

0.00

Net WAC Rate

7.66%

 

 

 

 

UC / (OC) Interest

0.00

(1)

Current Period NRA and WODRA displayed will represent the portion applied as Realized Losses to the bonds.

 

 

 

(2)

Other Adjustments value will represent miscellaneous items that may impact the Scheduled Balance of the collateral.

 

 

 

**

A negative value for Certificate Other Adjustments represents the payback of prior Principal Shortfalls, if any.

 

 

 

 

 

 

 

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Page 7 of 25

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Scheduled Balance

 

 

 

 

 

Debt Service Coverage Ratio¹

 

 

 

 

Scheduled

# Of

Scheduled

% Of

 

 

Weighted Avg

Debt Service Coverage

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Balance

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Ratio

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

$19,999,999 or less

8

102,325,974.89

21.60%

100

7.5141

1.717745

1.49 or less

9

252,569,519.08

53.32%

89

7.7204

1.258431

$20,000,000 to $29,999,999

5

120,646,353.03

25.47%

95

7.4290

1.859008

1.50 to 1.99

7

167,760,516.78

35.41%

77

7.9781

1.695584

$30,000,000 to $39,999,999

2

72,707,707.94

15.35%

79

7.7866

1.358855

2.00 to 2.49

2

28,400,000.00

5.99%

105

7.4161

2.209824

 

$40,000,000 or greater

4

178,050,000.00

37.58%

76

7.9242

1.370125

2.50 or greater

1

25,000,000.00

5.28%

102

5.7300

3.110000

 

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is

 

used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 8 of 25

 


 

 

                           

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

 

State³

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Type³

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

 

 

State

 

 

 

WAM²

WAC

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

Property Type

 

 

 

WAM²

WAC

 

 

 

 

 

 

 

 

 

Properties

Balance

Agg. Bal.

 

 

DSCR¹

 

Alaska

1

12,500,000.00

2.64%

105

6.9100

1.600000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial

2

15,400,000.00

3.25%

107

7.1600

1.880000

Arizona

2

23,063,048.74

4.87%

69

7.8814

1.122602

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lodging

2

23,527,183.78

4.97%

78

8.3698

1.435536

California

1

25,000,000.00

5.28%

102

5.7300

3.110000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mixed Use

4

94,122,254.22

19.87%

79

7.7954

1.390410

Colorado

5

22,783,000.00

4.81%

106

7.0720

1.080000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multi-Family

1

48,000,000.00

10.13%

108

6.8800

1.374170

Florida

1

8,190,000.00

1.73%

106

7.0720

1.080000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office

6

117,100,966.86

24.72%

54

8.6422

1.497067

Georgia

1

20,000,000.00

4.22%

106

7.8500

1.710000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

10

123,079,631.00

25.98%

106

7.2296

1.988466

Illinois

3

88,442,636.94

18.67%

108

7.2153

1.298546

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Self Storage

8

52,500,000.00

11.08%

106

7.0334

1.203810

Maryland

1

25,000,000.00

5.28%

107

7.7010

1.976529

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Totals

33

473,730,035.86

100.00%

87

7.6884

1.567987

Mississippi

1

14,900,000.00

3.15%

105

7.7170

2.110000

 

 

 

 

 

 

 

 

New York

4

25,644,160.11

5.41%

107

7.1153

1.865266

 

 

 

 

 

 

 

 

Ohio

4

48,979,115.00

10.34%

107

7.4835

1.490997

 

 

 

 

 

 

 

 

Pennsylvania

5

67,051,971.29

14.15%

47

8.6752

1.566285

 

 

 

 

 

 

 

 

Texas

2

46,860,516.78

9.89%

62

7.9847

1.522407

 

 

 

 

 

 

 

 

Washington

2

45,315,587.00

9.57%

50

8.9213

1.292883

 

 

 

 

 

 

 

 

Totals

33

473,730,035.86

100.00%

87

7.6884

1.567987

 

 

 

 

 

 

 

 

 

Note: Please refer to footnotes on the next page of the report.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 9 of 25

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

 

Note Rate

 

 

 

 

 

Seasoning

 

 

 

 

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

# Of

Scheduled

% Of

 

 

Weighted Avg

 

Note Rate

 

 

 

WAM²

WAC

 

Seasoning

 

 

 

WAM²

WAC

 

 

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

6.49999% or less

1

25,000,000.00

5.28%

102

5.7300

3.110000

12 months or less

5

138,937,384.83

29.33%

108

7.3650

1.322884

 

6.50000% to 7.49999%

6

141,544,160.11

29.88%

107

7.0100

1.454990

13 months or greater

14

334,792,651.03

70.67%

78

7.8226

1.669703

 

7.50000% to 8.49999%

9

205,469,208.75

43.37%

90

7.8230

1.500630

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

 

8.50000 or greater

3

101,716,667.00

21.47%

47

8.8417

1.482293

 

 

 

 

 

 

 

 

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

 

 

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 10 of 25

 


 

 

                             

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

 

Anticipated Remaining Term (ARD and Balloon Loans)

 

 

 

Remaining Amortization Term (ARD and Balloon Loans)

 

 

 

Anticipated

# Of

Scheduled

% Of

 

 

Weighted Avg

Remaining

# Of

Scheduled

% Of

 

 

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

 

WAM²

WAC

 

 

Remaining Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Amortization Term

Loans

Balance

Agg. Bal.

 

 

DSCR¹

 

99 months or less

5

158,138,020.03

33.38%

47

8.5883

1.447839

Interest Only

14

361,371,298.00

76.28%

84

7.6630

1.661255

100 months to 118 months

14

315,592,015.83

66.62%

107

7.2374

1.628191

300 months or less

1

11,860,516.78

2.50%

108

8.0400

1.500000

119 months to 119 months

0

0.00

0.00%

0

0.0000

0.000000

301 months to 358 months

4

100,498,221.08

21.21%

95

7.7381

1.240636

 

120 months or greater

0

0.00

0.00%

0

0.0000

0.000000

359 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

 

 

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Page 11 of 25

 


 

 

                         

 

 

 

 

Current Mortgage Loan and Property Stratification

 

 

 

 

 

 

 

 

Age of Most Recent NOI

 

 

 

 

Remaining Stated Term (Fully Amortizing Loans)

 

 

Age of Most

# Of

Scheduled

% Of

 

 

Weighted Avg

Age of Most

# Of

Scheduled

% Of

Weighted Avg

 

 

 

 

 

WAM²

WAC

 

 

 

 

WAM²

WAC

 

Recent NOI

Loans

Balance

Agg. Bal.

 

 

DSCR¹

Recent NOI

Loans

Balance

Agg. Bal.

DSCR¹

Underwriter's Information

4

133,144,160.11

28.11%

86

7.7185

1.595508

 

 

No outstanding loans in this group

 

 

12 months or less

15

340,585,875.75

71.89%

87

7.6766

1.557228

 

 

 

 

 

 

13 months to 24 months

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

25 months or greater

0

0.00

0.00%

0

0.0000

0.000000

 

 

 

 

 

 

Totals

19

473,730,035.86

100.00%

87

7.6884

1.567987

 

 

 

 

 

(1)

Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases the most current DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document

 

is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.

 

 

(2)

Anticipated Remaining Term and WAM are each calculated based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the Maturity Date.

 

 

 

(3)

Data in this table was calculated by allocating pro-rata the current loan information to the properties based upon the Cut Off Date Balance of each property as disclosed in the offering document. The Scheduled Balance Totals reflect the aggregate balances of all pooled loans as reported in the

 

CREFC Loan Periodic Update File. To the extent that the Scheduled Balance Total figure for the "State" and "Property" stratification tables is not equal to the sum of the scheduled balance figures for each state or property, the difference is explained by loans that have been modified into a split

 

loan structure. The "State" and "Property" stratification tables do not include the balance of the subordinate note (sometimes called the B-piece or a "hope note") of a loan that has been modified into a split-loan structure. Rather, the scheduled balance for each state or property only reflects the

 

balance of the senior note (sometimes called the A-piece) of a loan that has been modified into a split-loan structure.

 

 

 

 

 

 

 

 

 

 

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Page 12 of 25

 


 

 

                               

 

 

 

 

 

 

Mortgage Loan Detail (Part 1)

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

 

 

Original

Adjusted

Beginning

Ending

Paid

 

 

Prop

 

 

Accrual

Gross

Scheduled

Scheduled

Principal               Anticipated               Maturity

Maturity

Scheduled

Scheduled

Through

Pros ID

Loan ID

Type

    City

State

Type

Rate

Interest

Principal

Adjustments           Repay Date

Date

Date

Balance

Balance

Date

1A1

30322113

MF

Chicago

IL

Actual/360

6.880%

275,200.00

0.00

0.00

N/A

12/06/33

--

48,000,000.00

48,000,000.00

12/06/24

2A1

30510261

Various     Bala Cynwyd

PA

Actual/360

8.710%

348,400.00

0.00

0.00

N/A

11/06/28

--

48,000,000.00

48,000,000.00

12/06/24

3

30510176

OF

Renton

WA

Actual/360

9.030%

316,426.25

0.00

0.00

N/A

10/06/28

--

42,050,000.00

42,050,000.00

12/06/24

4

30530286

SS

Various

Various

Actual/360

7.072%

235,733.33

0.00

0.00

N/A

10/06/33

--

40,000,000.00

40,000,000.00

12/06/24

5A1

30510262

MU

Chicago

IL

Actual/360

7.620%

239,629.38

29,201.55

0.00

N/A

12/06/33

--

37,736,909.49

37,707,707.94

12/06/24

6A2

30322048

MU

Sugar Land

TX

Actual/360

7.966%

232,341.67

0.00

0.00

N/A

11/06/28

--

35,000,000.00

35,000,000.00

12/06/24

7

30530291

RT

Westlake

OH

Actual/360

7.648%

186,265.54

0.00

0.00

N/A

12/06/33

--

29,225,000.00

29,225,000.00

12/06/24

8A1-1

30322114

RT

San Diego

CA

Actual/360

5.730%

119,375.00

0.00

0.00

N/A

06/01/33

--

25,000,000.00

25,000,000.00

12/01/24

9A4-2

30322126

RT

Hanover

MD

Actual/360

7.701%

160,437.50

0.00

0.00

N/A

11/01/33

--

25,000,000.00

25,000,000.00

12/01/24

10

30510034

OF

Various

Various

Actual/360

8.402%

150,085.64

14,349.42

0.00

N/A

10/06/28

--

21,435,702.45

21,421,353.03

12/06/24

11A3

30510169

RT

Woodstock

GA

Actual/360

7.850%

130,833.33

0.00

0.00

N/A

10/06/33

--

20,000,000.00

20,000,000.00

12/06/24

12

30510251

IN

Findlay

OH

Actual/360

7.160%

91,886.67

0.00

0.00

N/A

11/06/33

--

15,400,000.00

15,400,000.00

12/06/24

13

30510017

OF

Jackson

MS

Actual/360

7.717%

95,819.42

0.00

0.00

N/A

09/01/33

--

14,900,000.00

14,900,000.00

12/01/24

14

30510120

RT

New York

NY

Actual/360

7.084%

79,695.00

0.00

0.00

N/A

10/01/33

--

13,500,000.00

13,500,000.00

12/01/24

15

30510043

SS

Anchorage

AK

Actual/360

6.910%

71,979.17

0.00

0.00

N/A

09/06/33

--

12,500,000.00

12,500,000.00

12/06/24

16

30510300

MU

Brooklyn

NY

Actual/360

7.150%

72,420.43

10,316.90

0.00

N/A

12/06/33

--

12,154,477.01

12,144,160.11

12/06/24

17

30510310

LO

Lubbock

TX

Actual/360

8.040%

79,555.12

13,381.03

0.00

N/A

12/06/33

--

11,873,897.81

11,860,516.78

12/06/24

18A12

30510224

LO

Philadelphia

PA

Actual/360

8.705%

84,631.95

0.00

0.00

N/A

11/06/28

--

11,666,667.00

11,666,667.00

12/06/24

19

30530277

RT

Various

Various

Actual/360

7.522%

64,903.69

0.00

0.00

N/A

09/06/33

--

10,354,631.00

10,354,631.00

12/06/24

Totals

 

 

 

 

 

 

3,035,619.09

67,248.90

0.00

 

 

 

473,797,284.76

473,730,035.86

 

1 Property Type Codes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HC - Health Care

MU - Mixed Use

WH - Warehouse

MF - Multi-Family

 

 

 

 

 

 

 

 

SS - Self Storage

LO - Lodging

RT - Retail

 

SF - Single Family Rental

 

 

 

 

 

 

 

 

98 - Other

 

IN - Industrial

OF - Office

 

MH - Mobile Home Park

 

 

 

 

 

 

 

 

SE - Securities

CH - Cooperative Housing

ZZ - Missing Information/Undefined

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 13 of 25

 


 

 

                           

 

 

 

 

 

Mortgage Loan Detail (Part 2)

 

 

 

 

 

 

 

 

 

Most Recent            Most Recent         Appraisal

 

 

 

 

     Cumulative

     Current

 

 

 

Most Recent

Most Recent

NOI Start

NOI End

Reduction

    Appraisal

     Cumulative

    Current P&I

     Cumulative P&I

     Servicer

     NRA/WODRA

 

 

Pros ID

Fiscal NOI

NOI

Date

Date

Date

    Reduction Amount

         ASER

       Advances

       Advances

      Advances

     from Principal

Defease Status

 

1A1

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

2A1

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

3

0.00

5,309,920.36

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

4

0.00

793,362.19

01/01/24

03/31/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

5A1

0.00

6,116,403.44

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

6A2

0.00

14,103,004.91

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

7

0.00

3,121,413.44

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

8A1-1

82,978,697.56

82,879,100.36

07/01/23

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

9A4-2

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

10

2,336,801.23

2,279,579.08

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

11A3

0.00

11,481,574.38

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

12

0.00

2,281,936.00

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

13

0.00

2,480,719.04

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

14

0.00

2,254,284.45

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

15

0.00

1,414,991.76

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

16

0.00

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

17

1,873,606.77

0.00

--

--

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

18A12

35,332,960.00

31,430,322.00

01/01/24

06/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

19

0.00

1,078,088.63

01/01/24

09/30/24

--

0.00

0.00

0.00

0.00

0.00

0.00

 

 

Totals

122,522,065.56

167,024,700.04

 

 

 

0.00

0.00

0.00

0.00

0.00

0.00

 

 

 

 

 

 

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Page 14 of 25

 


 

 

           

 

 

 

Principal Prepayment Detail

 

 

 

 

 

Unscheduled Principal

Prepayment Penalties

Pros ID

Loan Number

Amount

Prepayment / Liquidation Code

Prepayment Premium Amount

Yield Maintenance Amount

 

 

 

No principal prepayments this period

 

 

Note: Principal Prepayment Amount listed here may include Principal Adjustment Amounts on the loan in addition to the Unscheduled Principal Amount.

 

 

 

 

 

 

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Page 15 of 25

 


 

 

                                         

 

 

 

 

 

 

 

 

Historical Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delinquencies¹

 

 

 

 

 

 

Prepayments

 

Rate and Maturities

 

 

      30-59 Days

 

        60-89 Days

 

     90 Days or More

 

      Foreclosure

 

          REO

 

     Modifications

 

 

        Curtailments

 

    Payoff

Next Weighted Avg.

 

Distribution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

       Balance

#

       Balance

#

       Balance

#

      Balance

#

     Balance

#

    Balance

 

#

      Amount

#

    Amount

Coupon

Remit

WAM¹

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688384%

7.658646%

87

11/18/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688400%

7.658661%

88

10/18/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688410%

7.658671%

89

09/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688425%

7.658687%

90

08/16/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688435%

7.658697%

91

07/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688444%

7.658706%

92

06/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.688459%

7.658722%

93

05/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

1

10,000,000.00

7.688469%

7.658731%

94

04/17/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.671706%

7.641989%

94

03/15/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.671716%

7.642000%

95

02/16/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.671739%

7.642023%

96

01/18/24

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

0

0.00

 

0

0.00

0

0.00

7.671749%

7.642033%

97

(1) Foreclosure and REO Totals are included in the delinquencies aging categories.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Page 16 of 25

 


 

 

                               

 

 

 

 

 

 

 

Delinquency Loan Detail

 

 

 

 

 

 

 

 

 

Paid

 

Mortgage

 

 

Outstanding

Servicing

Resolution

 

 

 

 

 

 

Through

Months

Loan

 

Current P&I

Outstanding P&I

Servicer

Actual Principal

Transfer

Strategy

Bankruptcy

Foreclosure

 

Pros ID

Loan ID

Date

Delinquent

Status¹

Advances

Advances

Advances

Balance

Date

Code²

 

Date

Date

REO Date

 

 

 

 

 

 

 

No delinquent loans this period

 

 

 

 

 

 

1 Mortgage Loan Status

 

 

 

 

 

 

 

2 Resolution Strategy Code

 

 

 

 

 

 

A - Payment Not Received But Still in Grace Period 0 - Current

 

4 - Performing Matured Balloon

 

1 - Modification

6 - DPO

 

 

10 - Deed in Lieu of Foreclosures

B - Late Payment But Less Than 30 days

1 - 30-59 Days Delinquent

5 - Non Performing Matured Balloon

 

2 - Foreclosure

7 - REO

 

 

11- Full Payoff

 

Delinquent

 

 

 

 

 

 

 

 

3 - Bankruptcy

8 - Resolved

 

 

12 - Reps and Warranties

 

 

 

2 - 60-89 Days Delinquent

6 - 121+ Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 - Extension

9 - Pending Return to Master Servicer

13 -

TBD

 

 

 

 

3 - 90-120 Days Delinquent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5 - Note Sale

98 - Other

 

 

 

 

 

 

 

 

 

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Page 17 of 25

 


 

 

                 

 

 

 

 

Collateral Stratification and Historical Detail

 

Maturity Dates and Loan Status¹

 

 

 

 

 

 

 

 

 

           Total

        Performing

  Non-Performing

        REO/Foreclosure

 

 

Past Maturity

 

0

0

0

 

 

0

 

0 - 6 Months

 

0

0

0

 

 

0

 

7 - 12 Months

 

0

0

0

 

 

0

 

13 - 24 Months

 

0

0

0

 

 

0

 

25 - 36 Months

 

0

0

0

 

 

0

 

37 - 48 Months

 

158,138,020

158,138,020

0

 

 

0

 

49 - 60 Months

 

0

0

0

 

 

0

 

> 60 Months

 

315,592,016

315,592,016

0

 

 

0

 

 

 

 

 

Historical Delinquency Information

 

 

 

 

 

 

 

 

    Total

     Current

     30-59 Days

    60-89 Days

90+ Days

 

    REO/Foreclosure

 

 

Dec-24

473,730,036

473,730,036

0

0

0

 

0

 

Nov-24

473,797,285

473,797,285

0

0

0

 

0

 

Oct-24

473,846,150

473,846,150

0

0

0

 

0

 

Sep-24

473,912,650

473,912,650

0

0

0

 

0

 

Aug-24

473,960,746

473,960,746

0

0

0

 

0

 

Jul-24

474,008,521

474,008,521

0

0

0

 

0

 

Jun-24

474,073,974

474,073,974

0

0

0

 

0

 

May-24

474,120,995

474,120,995

0

0

0

 

0

 

Apr-24

484,185,722

484,185,722

0

0

0

 

0

 

Mar-24

484,231,998

484,231,998

0

0

0

 

0

 

Feb-24

484,314,060

484,314,060

0

0

0

 

0

 

Jan-24

484,359,480

484,359,480

0

0

0

 

0

 

(1) Maturity dates used in this chart are based on the dates provided by the Master Servicer in the Loan Periodic File.

 

 

 

 

 

 

 

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Page 18 of 25

 


 

 

                     

 

 

 

Specially Serviced Loan Detail - Part 1

 

 

 

 

 

 

Ending Scheduled

 

 

 

Net Operating

 

 

 

Remaining

Pros ID

Loan ID

Balance

Actual Balance

Appraisal Value

Appraisal Date

Income

DSCR

DSCR Date

Maturity Date

Amort Term

 

 

 

 

No specially serviced loans this period

 

 

 

 

 

 

 

 

 

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Page 19 of 25

 


 

 

                 

 

 

 

 

 

Specially Serviced Loan Detail - Part 2

 

 

 

 

 

 

Servicing

 

 

 

 

 

 

Property

 

Transfer

Resolution

 

 

 

Pros ID

Loan ID

Type¹

State

Date

Strategy Code²

 

Special Servicing Comments

 

 

 

 

 

 

No specially serviced loans this period

 

 

1 Property Type Codes

 

 

 

 

2 Resolution Strategy Code

 

 

HC - Health Care

 

MU - Mixed Use

WH - Warehouse

1 - Modification

6 - DPO

10 - Deed in Lieu of Foreclosures

MF - Multi-Family

 

SS - Self Storage

LO - Lodging

2 - Foreclosure

7 - REO

11- Full Payoff

RT - Retail

 

SF - Single Family Rental

98 - Other

3 - Bankruptcy

8 - Resolved

12 - Reps and Warranties

IN - Industrial

 

OF - Office

 

MH - Mobile Home Park

4 - Extension

9 - Pending Return to Master Servicer

13 - TBD

SE - Securities

 

CH - Cooperative Housing

ZZ - Missing Information/Undefined

5 - Note Sale

98 - Other

 

 

 

 

 

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Page 20 of 25

 


 

 

                 

 

 

 

 

Modified Loan Detail

 

 

 

 

 

 

Pre-Modification

Post-Modification

 

Modification

Modification

 

 

 

 

 

Modification

Modification Booking

Closing

Effective

 

 

Balance

Rate

Balance

Rate

 

 

 

Pros ID

Loan Number

 

 

 

Code¹

Date

Date

Date

 

 

 

 

No modified loans this period

 

 

 

1 Modification Codes

 

 

 

 

 

 

 

1 - Maturity Date Extension

5 - Temporary Rate Reduction

8 - Other

 

 

 

 

 

2 - Amortization Change

6 - Capitalization on Interest

9 - Combination

 

 

 

 

 

3 - Principal Write-Off

7 - Capitalization on Taxes

10 - Forbearance

 

 

 

 

 

 

Note: Please refer to Servicer Reports for modification comments.

 

 

 

 

 

 

 

 

 

 

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Page 21 of 25

 


 

 

                       

 

 

 

Historical Liquidated Loan Detail

 

 

 

 

 

Loan

 

Gross Sales

 

 

 

 

Current

 

Loss to Loan

Percent of

 

Beginning

Most Recent

Proceeds or

Fees,

Net Proceeds

Net Proceeds

 

Period

Cumulative

with

Original

              Loan

Scheduled

Appraised

Other

Advances,

Received on

Available for

Realized Loss

Adjustment to

Adjustment to

Cumulative

Loan

Pros ID¹               Number                        Dist.Date

Balance

Value or BPO

Proceeds

and Expenses

Liquidation

Distribution

to Loan

Loan

Loan

Adjustment

Balance

 

 

 

 

No liquidated loans this period

 

 

 

 

 

Note: Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).

 

 

 

 

 

 

 

 

 

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Page 22 of 25

 


 

 

                     

 

 

 

Historical Bond / Collateral Loss Reconciliation Detail

 

 

 

 

 

 

Certificate

Reimb of Prior

 

 

 

 

 

 

 

 

 

Interest Paid

Realized Losses

 

Loss Covered by

 

 

 

 

Total Loss

 

 

from Collateral

from Collateral

Aggregate

Credit

Loss Applied to

Loss Applied to

Non-Cash

Realized Losses

Applied to

       Loan

Distribution

Principal

Interest

Realized Loss to

Support/Deal

Certificate

Certificate

Principal

from

Certificate

Pros ID         Number

Date

Collections

Collections

Loan

Structure

Interest Payment

Balance

Adjustment

NRA/WODRA

Balance

 

 

 

 

 

No realized losses this period

 

 

 

 

 

 

 

 

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Page 23 of 25

 


 

 

                         

 

 

 

 

Interest Shortfall Detail - Collateral Level

 

 

 

 

 

 

 

 

 

Special Servicing Fees

 

 

 

 

 

 

Modified

 

 

Deferred

 

 

 

 

 

Non-

 

Reimbursement of

Other

Interest

 

Interest

Interest

 

 

 

 

 

Recoverable

Interest on

Advances from

Shortfalls /

Reduction /

Pros ID

Adjustments

Collected

Monthly

Liquidation

Work Out

ASER

PPIS / (PPIE)

Interest

Advances

Interest

(Refunds)

(Excess)

 

 

 

 

 

No interest shortfalls this period

 

 

 

 

 

Note: Interest Adjustments listed for each loan do not include amounts that were used to adjust the Weighted Average Net Rate of the mortgage loans.

 

 

 

 

 

 

 

 

 

 

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Page 24 of 25

 


 

 

   

Supplemental Notes

 

Risk Retention

 

Pursuant to the PSA, the Certificate Administrator has made available on www.ctslink.com <http://www.ctslink.com>, specifically under the "U.S. Risk Retention Special Notices" tab for the Benchmark 2023-B40 Mortgage Trust transaction, certain information

provided to the Certificate Administrator. Investors should refer to the Certificate Administrator's website for all such information.

 

 

 

 

 

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Page 25 of 25