CMBS distress signals

Loan-level red flags from CMBS filings — 10-D CREFC IRP servicer reports (special servicing, delinquency, appraisal reductions, maturity defaults, loan modifications) and, for 2017+ deals, Form ABS-EE asset-level data (upstream debt-service and occupancy early warnings). Factual reports of public SEC filings — not an allegation of wrongdoing, not investment advice.

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Loan modification · Wells Fargo Commercial Mortgage Trust 2020-C55 · loan 883101050 · medium

Wells Fargo Commercial Mortgage Trust 2020-C55: loan 883101050 was modified by the servicer (code 8), effective 2026-10-06.

2026-10-06 · SEC filing

Appraisal reduction · CSAIL 2015-C1 Commercial Mortgage Trust · loan 10262929 · high

CSAIL 2015-C1 Commercial Mortgage Trust: loan 10262929 has an appraisal reduction of $2,179,054 (~100% of balance) (2026-09-01) — the collateral was re-appraised down.

2026-09-01 · SEC filing

Appraisal reduction · BMO 2023-C6 Mortgage Trust · loan 30510011 · medium

BMO 2023-C6 Mortgage Trust: loan 30510011 has an appraisal reduction of $467,506 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BMO 2023-C6 Mortgage Trust · loan 30509887 · medium

BMO 2023-C6 Mortgage Trust: loan 30509887 has an appraisal reduction of $342,298 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BMO 2023-C6 Mortgage Trust · loan 30321813 · medium

BMO 2023-C6 Mortgage Trust: loan 30321813 has an appraisal reduction of $8,814 (~0% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BMO 2023-C6 Mortgage Trust · loan 30321816 · medium

BMO 2023-C6 Mortgage Trust: loan 30321816 has an appraisal reduction of $23,291 (~1% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · Benchmark 2023-V3 Mortgage Trust · loan 30509759 · medium

Benchmark 2023-V3 Mortgage Trust: loan 30509759 has an appraisal reduction of $433,922 (~1% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · Benchmark 2023-V3 Mortgage Trust · loan 30509969 · medium

Benchmark 2023-V3 Mortgage Trust: loan 30509969 has an appraisal reduction of $281,924 (~1% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · Benchmark 2024-V5 Mortgage Trust · loan 30510386 · medium

Benchmark 2024-V5 Mortgage Trust: loan 30510386 has an appraisal reduction of $87,201 (~1% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · Benchmark 2024-V5 Mortgage Trust · loan 30510356 · medium

Benchmark 2024-V5 Mortgage Trust: loan 30510356 has an appraisal reduction of $180,295 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2023-5C23 · loan 30510181 · medium

BBCMS Mortgage Trust 2023-5C23: loan 30510181 has an appraisal reduction of $98,232 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2023-5C23 · loan 30322075 · medium

BBCMS Mortgage Trust 2023-5C23: loan 30322075 has an appraisal reduction of $32,411 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2023-5C23 · loan 30322049 · medium

BBCMS Mortgage Trust 2023-5C23: loan 30322049 has an appraisal reduction of $1,022,106 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BMO 2023-C7 Mortgage Trust · loan 30510242 · medium

BMO 2023-C7 Mortgage Trust: loan 30510242 has an appraisal reduction of $239,059 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · BMO 2023-C7 Mortgage Trust · loan 30510243 · medium

BMO 2023-C7 Mortgage Trust: loan 30510243 has an appraisal reduction of $95,624 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · Benchmark 2024-V11 Mortgage Trust · loan 30511373 · medium

Benchmark 2024-V11 Mortgage Trust: loan 30511373 has an appraisal reduction of $395,625 (~2% of balance) — the collateral was re-appraised down.

2026-07-14 · SEC filing

Appraisal reduction · Benchmark 2021-B25 Mortgage Trust · loan 30506923 · medium

Benchmark 2021-B25 Mortgage Trust: loan 30506923 has an appraisal reduction of $97,742 (~1% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · 3650R 2021-PF1 Commercial Mortgage Trust · loan 30507344 · medium

3650R 2021-PF1 Commercial Mortgage Trust: loan 30507344 has an appraisal reduction of $42,070 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · Benchmark 2021-B29 Mortgage Trust · loan 30530160 · medium

Benchmark 2021-B29 Mortgage Trust: loan 30530160 has an appraisal reduction of $20,113 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · Benchmark 2022-B32 Mortgage Trust · loan 30508360 · medium

Benchmark 2022-B32 Mortgage Trust: loan 30508360 has an appraisal reduction of $14,887 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2022-C15 · loan 30508596 · medium

BBCMS Mortgage Trust 2022-C15: loan 30508596 has an appraisal reduction of $1,103,797 (~4% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2022-C15 · loan 30320868 · medium

BBCMS Mortgage Trust 2022-C15: loan 30320868 has an appraisal reduction of $24,159 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BMO 2022-C2 Mortgage Trust · loan 30508734 · medium

BMO 2022-C2 Mortgage Trust: loan 30508734 has an appraisal reduction of $54,322 (~1% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BMO 2022-C3 Mortgage Trust · loan 30321348 · medium

BMO 2022-C3 Mortgage Trust: loan 30321348 has an appraisal reduction of $7,642 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BMO 2022-C3 Mortgage Trust · loan 30321358 · medium

BMO 2022-C3 Mortgage Trust: loan 30321358 has an appraisal reduction of $61,371 (~2% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · Benchmark 2023-V2 Mortgage Trust · loan 30509740 · medium

Benchmark 2023-V2 Mortgage Trust: loan 30509740 has an appraisal reduction of $749,065 (~1% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2022-C14 · loan 30320734 · medium

BBCMS Mortgage Trust 2022-C14: loan 30320734 has an appraisal reduction of $20,602 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2022-C15 · loan 30320869 · medium

BBCMS Mortgage Trust 2022-C15: loan 30320869 has an appraisal reduction of $21,963 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BMO 2022-C3 Mortgage Trust · loan 30321362 · medium

BMO 2022-C3 Mortgage Trust: loan 30321362 has an appraisal reduction of $13,966 (~0% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2023-C22 · loan 30321961 · medium

BBCMS Mortgage Trust 2023-C22: loan 30321961 has an appraisal reduction of $237,305 (~2% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · BBCMS Mortgage Trust 2023-C22 · loan 30321962 · medium

BBCMS Mortgage Trust 2023-C22: loan 30321962 has an appraisal reduction of $222,846 (~4% of balance) — the collateral was re-appraised down.

2026-07-13 · SEC filing

Appraisal reduction · CD 2017-CD4 Mortgage Trust · loan 30312387 · medium

CD 2017-CD4 Mortgage Trust: loan 30312387 has an appraisal reduction of $28,845 (~0% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · CD 2017-CD4 Mortgage Trust · loan 30312400 · medium

CD 2017-CD4 Mortgage Trust: loan 30312400 has an appraisal reduction of $70,966 (~1% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · COMM 2015-CCRE23 Mortgage Trust · loan 30309188 · medium

COMM 2015-CCRE23 Mortgage Trust: loan 30309188 has an appraisal reduction of $102,013 (~1% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · COMM 2015-CCRE23 Mortgage Trust · loan 30309185 · medium

COMM 2015-CCRE23 Mortgage Trust: loan 30309185 has an appraisal reduction of $79,467 (~1% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · COMM 2015-CCRE23 Mortgage Trust · loan 30309198 · medium

COMM 2015-CCRE23 Mortgage Trust: loan 30309198 has an appraisal reduction of $6,638 (~0% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · COMM 2015-CCRE23 Mortgage Trust · loan 30309203 · medium

COMM 2015-CCRE23 Mortgage Trust: loan 30309203 has an appraisal reduction of $46,589 (~1% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · COMM 2015-CCRE23 Mortgage Trust · loan 30309166 · medium

COMM 2015-CCRE23 Mortgage Trust: loan 30309166 has an appraisal reduction of $972,219 (~5% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · COMM 2015-CCRE23 Mortgage Trust · loan 30309170 · medium

COMM 2015-CCRE23 Mortgage Trust: loan 30309170 has an appraisal reduction of $1,929,971 (~10% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · CD 2016-CD1 Mortgage Trust · loan 30311336 · medium

CD 2016-CD1 Mortgage Trust: loan 30311336 has an appraisal reduction of $400,516 (~2% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · CD 2016-CD1 Mortgage Trust · loan 30311333 · medium

CD 2016-CD1 Mortgage Trust: loan 30311333 has an appraisal reduction of $443,491 (~3% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · CD 2016-CD1 Mortgage Trust · loan 30311352 · medium

CD 2016-CD1 Mortgage Trust: loan 30311352 has an appraisal reduction of $545,672 (~5% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · DBJPM 2016-C3 Mortgage Trust · loan 30311278 · medium

DBJPM 2016-C3 Mortgage Trust: loan 30311278 has an appraisal reduction of $560,722 (~2% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · GS Mortgage Securities Trust 2017-GS5 · loan 30312198 · medium

GS Mortgage Securities Trust 2017-GS5: loan 30312198 has an appraisal reduction of $471,745 (~2% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · GS Mortgage Securities Trust 2017-GS5 · loan 30312202 · medium

GS Mortgage Securities Trust 2017-GS5: loan 30312202 has an appraisal reduction of $873,873 (~5% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · CD 2017-CD3 Mortgage Trust · loan 30312101 · medium

CD 2017-CD3 Mortgage Trust: loan 30312101 has an appraisal reduction of $5,423,657 (~14% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · UBS Commercial Mortgage Trust 2017-C3 · loan 30298803 · medium

UBS Commercial Mortgage Trust 2017-C3: loan 30298803 has an appraisal reduction of $12,019 (~0% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · CCUBS Commercial Mortgage Trust 2017-C1 · loan 30313498 · medium

CCUBS Commercial Mortgage Trust 2017-C1: loan 30313498 has an appraisal reduction of $496,383 (~1% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · UBS Commercial Mortgage Trust 2017-C5 · loan 30313423 · medium

UBS Commercial Mortgage Trust 2017-C5: loan 30313423 has an appraisal reduction of $290,754 (~3% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing

Appraisal reduction · UBS Commercial Mortgage Trust 2017-C2 · loan 30298611 · medium

UBS Commercial Mortgage Trust 2017-C2: loan 30298611 has an appraisal reduction of $48,412 (~1% of balance) — the collateral was re-appraised down.

2026-07-12 · SEC filing