KEY RATING DRIVERS
The affirmations are the result of stable performance of the underlying pool since issuance. The pool has had no delinquent or specially serviced loans since issuance. The pool's aggregate principal balance has been reduced by 0.8% to
The affirmations of the Freddie Mac K-710 certificates are based on the pass-through nature of the certificates, as they are dependent on the underlying ratings of corresponding classes of FREMF 2012-K710.
The largest loan of the pool (10.7% of the pool) is secured by Ocean At 1 West, a 492-unit high-rise apartment complex in downtown
The largest Fitch Loan of Concern,
The next largest Fitch Loan of Concern is the
The Rating Outlooks for all classes remains Stable. Due to the recent issuance of the transaction and stable performance, Fitch does not foresee positive or negative ratings migration until a material economic or asset level event changes the transaction's overall portfolio-level metrics. Additional information on rating sensitivity is available in 'FREMF 2012-K710 Multifamily Mortgage Pass-Through Certificates and Freddie Mac Structured Pass-Through Certificates, Series K-710' (
Fitch affirms the following classes as indicated:
FREMF 2012-K710 Multifamily Mortgage Pass-Through Certificates
Fitch does not rate the class D, X2-B and X3 certificates.
Freddie Mac Structured Pass-Through Certificates, Series K-710
Fitch does not rate the class X3 certificates.
*Notional and interest-only.
A comparison of the transaction's Representations, Warranties, and Enforcement (RW&E) mechanisms to those of typical RW&Es for the asset class is available in the following report:
--'FREMF 2012-K710 Multifamily Mortgage Pass-Through Certificates and Freddie Mac Structured Pass-Through Certificates, Series K-710 -- Appendix' (
Additional information on Fitch's criteria for analyzing U.S. CMBS transactions is available in the
Structured Finance >> CMBS >> Criteria Reports
Additional information is available at 'www.fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria' (
U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
Global Structured Finance Rating Criteria
Source: Fitch Ratings
Most Popular Stories
- Homeowners More Satisfied With Mortgage Servicers
- Why Samsung Shares Plunged in the April-June Quarter
- House Shelves Immigration Bill, Goes on Vacation
- NASA Plans to Make Oxygen on Mars
- What Hamas and Israel Hope to Gain in Gaza
- Notorious RBG Tells All in Couric Interview
- House GOP Leaders Abandon Immigrant Bill
- Wisconsin Supreme Court: Voter IDs Must Be Free
- Market Loses All of July's Gains in One Day
- Ford Tremor: Easy to Park, Hard to Pay For