Investor Presentaiton

Post-Securitization Servicing Requirements (continued) Servicer Affiliate • The Servicer can't acquire lender placed insurance from any affiliate If the Servicer obtains property valuation, preservation, or disposition services from an affiliate, the Servicer may not receive incentive based compensation, and the costs of services must be reasonable and at market levels Cap on Advances • Any advance amount exceeding a predetermined cap will require advance notice to the Guarantor and the Trustee and non-objection from the Guarantor in order to be reimbursable Valuation Requirements • Each Servicer must comply with the valuation waterfall below when determining the valuation to be used in evaluating for certain loss mitigation alternatives as described in the PSA (e.g. Modification, short sale, short payoff, deed-in-lieu of foreclosure) 。 Step 1: Obtain BPO and Home Value Explorer® ("HVE®") valuations 。 Step 2: If the BPO value is within +/- 15% of the HVEⓇ value, then the Servicer must use the BPO valuation 。 Step 3: If an HVEⓇ value is not available or the BPO value is outside +/- 15% of the HVEⓇ value, then the Servicer must obtain a second BPO value from a non-affiliated broker 。 Step 4: If the Servicer is required to order a second BPO valuation, the Servicer must use the higher of the two BPO valuations CONFIDENTIAL 25 SLST 2023-1 Prepared by Investments and Capital © Freddie Mac Markets

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