Presale: FREMF 2026-K769 Mortgage Trust/Freddie Mac Structured Pass-Through Certificates Series K-769

Preliminary ratings Class Preliminary rating Preliminary amount ($) Credit enhancement (%) FREMF 2026-K769 Mortgage Trust A-1(i) AAA (sf) 15,649,000 15.000(ii) A-2(i) AAA (sf) 807,249,000 15.000(ii) A-M(i) NR 145,218,058 0.000 X1(i)(iii) AAA (sf) 822,898,000(iv) N/A XAM(i)(iii) NR 145,218,058(iv) N/A Freddie Mac Structured Pass-Through Certificates Series K-769 A-1(v) AAA (sf) 15,649,000 15.000(ii) A-2(v) AAA (sf) 807,249,000 15.000(ii) A-M NR 145,218,058 0.000 X1(iii)(v) AAA (sf) 822,898,000(iv) N/A XAM(iii) NR 145,218,058(iv) N/A Note: This presale report is based on information as of Oct. 26, 2026. The ratings shown are preliminary. This report does not constitute a recommendation to buy, hold, or sell securities. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. (i)Freddie Mac will acquire the

...The preliminary ratings assigned to FREMF 2026-K769 Mortgage Trust/Freddie Mac Structured Pass-Through Certificates Series K-769's (FREMF 2026-K769's/Freddie Mac SPC K-769's) multifamily mortgage pass-through certificates reflect the credit support provided by the transaction's structure, our view of the underlying collateral's economics, the trustee-provided liquidity, the collateral pool's relative diversity, and our overall qualitative assessment of the transaction, without giving effect to the Freddie Mac guarantee (see the "Guarantor/Guarantee" section below). S&P Global Ratings determined that the collateral pool has a weighted average debt service coverage (DSC) ratio of 1.29x and beginning and ending loan-to-value (LTV) ratios of 85.8% and 84.3%, respectively, based on our values....

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