Trepp is a data analytics and software company which provides information and insights about the CMBS and commercial real estate markets. While Trepp’s products are mainly targeted towards institutional bond investors, broker dealers, and hedge funds, their products can also be also be valuable for CMBS borrowers, as well as investors interested in acquiring properties that are currently being funded with CMBS loans (especially in the case of loan assumptions).
While CMBS lenders’ underwriting standards are stricter than they once were, a certain amount of conduit loan borrowers still default on their loans. It’s generally understood that a loan default is something that borrowers want to avoid at all costs. However, understanding the CMBS default rates-- and, just as importantly, the reason why borrowers defaulted on their loans in the first place, can be essential for borrowers who want to avoid the same fate.