Every Servicer Comment. Every Change. Every Month.
Extracted loan-level surveillance across the entire CMBS conduit universe. Servicer commentary diffs, delinquency tracking, and event classification, from 10-D filings you'd never have time to read yourself.
Source: SEC EDGAR | 473 deals | 17,881 loans | Updated monthly
What You Get
Watchlist — Top 25 Changes
The most significant loan-level changes this month, ranked by severity and balance. Before/after servicer commentary shown side by side.
Geographic & Property Type Analysis
Specially serviced and delinquent loan concentrations by state and property type, with month-over-month trends and SS rates.
Deal-by-Deal Appendix
Every deal with material changes gets a detailed breakdown: which loans worsened, improved, or resolved, with balance impact and servicer narrative summaries.
Raw CSV Data Package
Five companion CSV files for power users: loan snapshots, extracted events, commentary diffs, filing metadata, and a full data dictionary.
Report Details
Specially serviced and delinquent loan concentrations by state and property type, with month-over-month trends. See where distress is building — and where it's resolving.
Report Details
Five companion CSVs for power users: loan snapshots, events, comment diffs (prior and current month changes), filing metadata, and a full data dictionary.
Load directly into Excel, Python or Claude for Finance.
Wave goodbye to
473
Active CMBS Conduit Deals
$309.83B
Outstanding Balance
1,367
Specially Serviced Loans
17,881
Loans Monitored
Pricing
One Report. Complete Coverage. No Subscription.
Delivered instantly after purchase. No subscription. Questions? contact@caporbit.com
Sample PDF report to preview structure and commentary
Market commentary highlighting key aggregate trends
Sample watchlist with before/after servicer commentary
Sample deal-by-deal appendix
Sample CSV files (snapshots, events, diffs, dictionary)
Instant delivery
PDF report covering all 473 active public CMBS deals
Market commentary highlighting key aggregate trends
Top 25 watchlist with before/after servicer commentary
Deal-by-deal appendix
Full CSV files (snapshots, events, diffs, dictionary)
Instant delivery
Comparison
What Sets This Report Apart
V/S
THE ALTERNATIVE
Reading 500+ PDFs per month (40+ hours of analyst time)
Manual Excel trackers that go stale by week two
Platform subscriptions at $2,000+/month
Partial coverage — 100 deals, not the full universe
Current snapshot only — no month-over-month comparison
No event classification or severity scoring
Pari passu notes shown separately (miss total exposure)
Commentary buried in PDFs, never extracted
Cap Orbit
473 deals processed and analyzed automatically
Every servicer comment extracted and normalized
Before/after commentary diffs for every changed loan
Events classified by type and severity
Pari passu notes consolidated to show combined exposure
Geographic and property type heatmaps included
Machine-readable CSV data package included
$399 per report — no subscription, no commitment
FAQs
Frequently Asked Questions
What exactly is in the report?
Where does the data come from?
How is this different from Trepp or CRED iQ?
Is this a monthly sub?
What format are the CSV files in?
Can I see a sample before buying?
Who publishes this?
I have a question, who should I talk to?
I think you missed a CMBS?
Can you analyse private market deals?
Stop reading 10-Ds. Read the changes.
The February 2026 CMBS Surveillance Snapshot is available now.
Cap Orbit
CMBS surveillance, simplified.
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