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Investor Presentaiton

Post-Securitization Servicing Requirements Modification, Payment Deferral and Other Loss Mitigation Eligibility Borrower must be 60+ days delinquent or in imminent default as determined by the Servicer Limits Servicer must evaluate eligible borrower first for a Payment Deferral, and then a Modification, subject to the PSA If the sole change to a term of an Eligible Loan is the deferral of delinquent principal and interest amounts (i.e., a Payment Deferral), it is not considered a Modification. For the avoidance of doubt, if there is deferral of principal and interest amounts along with another change or variance, such as a deferral of taxes and insurance or an extension of the term, such change will be considered a Modification After the Closing Date, a Payment Deferral for a Mortgage Loan may not defer more than twelve (12) months of delinquent principal and interest payments, cumulatively A Modification must meet the following criteria: о о о No more than 1 Modification every 12 months, and no more than 2 total Modifications after the Closing Date(1) No principal forgiveness for any loan where resulting post-mod MTMLTV(2) (using interest bearing balance) is less than 105% No principal forbearance for any loan where resulting post-mod MTMLTV(2) (using interest bearing balance) is less than 80% No short payoffs (including forbearance amounts) unless eligibility criteria above is met and the Servicer determines such action to be in the best interest of certificateholders The Servicer may not solicit performing borrowers for loss mitigation (1) So long as there is a Majority Representative, the Collateral Administrator may consent to more than 1 modification every 12 months and more than 2 total after the Closing Date (2) MTMLTV is the mark to market loan-to-value ratio based on the interest bearing unpaid principal balance of the related Mortgage Loan and the current market value of the related mortgaged property, as described in the Valuation Requirements above CONFIDENTIAL SLST 2023-1 24 Prepared by Investments and Capital © Freddie Mac Markets
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