Who is my CMBS special servicer?

How to read the result

• Special servicer: the firm named in the trust's latest 10-D. It acts only once a loan transfers; for a performing loan it is the firm that would take over.
• Master servicer: the primary servicer named for the loan in the trust's ABS-EE filing, usually the master servicer, sometimes a sub-servicer working for it. It collects payments and handles requests such as assumptions and consents while the loan performs.
• Payment status: as of the latest filing, using the SEC's codes. "Non-performing matured balloon" means the loan passed maturity without paying off.
• Several rows for one property: a split loan has a note in each trust. The trust holding the lead note governs servicing.

Once you know the servicer

13 firms are named as special servicer across these trusts; the 10 largest have pages listing every trust, its late loans and appraisal reductions. Then: how special servicing works, the servicer clock (what happens on day 60, 90, 120), the fees you can expect, and who services a performing loan on master servicers.

Janover Capital LLC is not a servicer, a lender or a law firm, and searching here does not notify anyone. If the loan is late or near maturity, a refinance or recapitalization arranged before the file moves can save fees. Tell us where it stands.

Source: SEC EDGAR Form ABS-EE loan data and Form 10-D trustee reports, compiled by cmbs.news. Loan pages on cmbs.news carry balances, comments and history.

Questions people ask

How do I find out who the special servicer on my CMBS loan is?

Search the property name, city or trust here. The answer is the special servicer named in the trust's latest 10-D trustee report filed with the SEC. If your loan has transferred, the servicer's transfer notice will also name the firm and the asset manager on your file.

What is the difference between the master servicer and the special servicer?

The master servicer collects payments and handles routine requests while the loan performs. The special servicer takes over only after a servicing transfer event, such as a payment 60 days late or a missed balloon, and works the loan out or liquidates it.

Why does my loan show a special servicer when it is current?

Every trust names a special servicer in advance. The name shown is the firm that would handle your loan if it transferred, not a sign that it has. The payment status column shows how the loan stood in the trust's latest filing.

My loan is split across several trusts. Which special servicer applies?

The one in the trust that holds the lead note, whose pooling and servicing agreement governs the whole loan. The search shows a row for each trust's note; the lead trust's servicer is the one that acts.

My loan is not in the results. Why?

The index covers loans in CMBS trusts that file Form ABS-EE (376 trusts), still reporting in the latest filings. Single-borrower deals that do not file ABS-EE, bank and life company loans, and loans paid off or defeased are not in it. Try a shorter name or the city.