Trepp and Midland Form Partnership
As a means of providing more transparency to information on commercial mortgage-backed securities loans it services, as well as offering its users faster access to loan information, Midland Services, a PNC real estate company and third-party mortgage loan servicer, has formed a partnership with Trepp LLC, a provider of mortgage information, risk assessment and analytics tools for the commercial real estate finance sector.
The partnership involves a new feature on Trepp's website whereby users can hyperlink directly to loan information stored in Midland's CMBS investor insight Internet portal. Trepp's website provides access to CMBS data on more than 100,000 loans supporting more than $1 trillion in securities.
"Through this arrangement, mutual Trepp and Midland users have access to comprehensive data for monitoring the performance and credit quality of their CMBS portfolios and investments," said Stacey Berger, executive vice president of Midland in a statement.
CMBS investor insight offers updated and detailed information on all CMBS transactions for which Midland is the master servicer. Midland is the first master servicer to provide access to its investor reporting tool through Trepp's website. Trepp has added deal and loan-level links to CMBS investor insight for Midland master serviced transactions. The deal-level link offers access to various CMSA data files such as the loan setup, property and financial files. The loan-level links provider access to data files such as financial statements, OSA/NOI worksheets, rent rolls and property inspections.
Separately, Trepp recently unveiled a new debt service coverage ratios tool for TreppCMBS Analytics on the Web and TreppDerivative. DSCR Migration allows investors to readily examine the change in the debt service coverage ratios DSCRs in order to identify shifts in the quality of the underlying collateral. DSCR Migration can be used for individual CMBS transactions, CMBS portfolios and CMBX trades for both fiscal year 2007 vs. fiscal year 2006 and fiscal year 2007 vs. securitization.