FIGRE Trust 2025-HE1: Presale Report

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  27-Jan-25	Mortgage-Backed Notes, Series 2025-HE1, Class A	(P) AAA (sf)	--	Provis.-New	US
  27-Jan-25	Mortgage-Backed Notes, Series 2025-HE1, Class B	(P) AA (low) (sf)	--	Provis.-New	US
  27-Jan-25	Mortgage-Backed Notes, Series 2025-HE1, Class C	(P) A (low) (sf)	--	Provis.-New	US
  27-Jan-25	Mortgage-Backed Notes, Series 2025-HE1, Class D	(P) BBB (low) (sf)	--	Provis.-New	US
  27-Jan-25	Mortgage-Backed Notes, Series 2025-HE1, Class E	(P) BB (low) (sf)	--	Provis.-New	US
  27-Jan-25	Mortgage-Backed Notes, Series 2025-HE1, Class F	(P) B (low) (sf)	--	Provis.-New	US

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