How it works
How it works
TrackCRE turns monthly loan filings into a ranked list of distressed multifamily deals, with the score, the reason, the price reference and the phone number. This page shows exactly how to use it.
Your morning in four moves
The product is built around a short daily routine. Filings are checked every day, so the list you open in the morning already reflects last night's data.
Open Ranked
Every tracked loan in one table, sorted by Distress Score by default. The loans that got worse overnight are at the top.
Check your saved screens
If a loan entered or left one of your saved screens, you already have an email. Click through to see what changed.
Work the top of the list
Open the highest Opportunity Scores in your markets. Each loan page gives you the reason, the numbers, the price reference and the contacts.
Make the call
Deal contacts gives you the servicer desk, the owner of record and the officers behind the entity. The reason to call is on the same page.
The Ranked list, column by column
Ranked is the front door. Filter by metro, class, units and program, sort by either score, and save the result as a screen. Here is what each column tells you.
Signal Status
ALERT, WATCH, MONITOR or CLEAR. The strongest rule that fired on the latest filing. This is event urgency.
Distress Score
0 to 100. How bad the loan is right now: cash flow, maturity pressure, leverage, workout stage and momentum. This is severity.
Opportunity Score
0 to 100. How worth pursuing the deal is: severity, timing, the capital gap, stage and momentum. This is pursue-worthiness.
Balance and per-unit
Whole-loan balance. When a loan is split across trust notes or covers several buildings, the figures are combined first, so per-unit numbers are real.
DSCR and occupancy
Latest reported, with the direction of travel. A slip from 1.14x to 1.02x matters more than the level alone.
Value gap
The difference between the debt and the lowest disclosed value. This is the room a discounted payoff or note sale has to work with.
Maturity
Months to maturity. Inside 24 months the refinance question dominates everything else.
The two scores
Every loan carries two scores. They answer different questions, so a deal can score high on one and low on the other. Both are computed by fixed rules after each daily refresh, and both show their evidence: when key inputs are missing, the score says so instead of guessing.
0 to 100. How bad the loan is right now, built from cash flow, maturity pressure, leverage, workout stage and recent momentum. Higher means more severe. Bands run from Healthy to Critical.
Use it to answer: how much pain is in this deal today?
0 to 100. How worth pursuing the deal is, built from severity, timing, the capital gap, stage of the workout and momentum. Higher means act sooner.
Use it to answer: is this worth my time this week?
How to read them together
High Distress, high Opportunity
Severe and actionable. This is where note sales, discounted payoffs and rescue capital get done. Call this week.
Moderate Distress, high Opportunity
Early. The stress is visible in the filings but not yet widely known. This is where early calls win the relationship before the market catches up.
High Distress, low Opportunity
Severe but not actionable yet, often because the timing or the capital gap does not work. Keep it on a watchlist instead of spending calls on it.
Low Distress, low Opportunity
Nothing to do. Alerts tell you if that changes.
Full component tables, point ladders and band thresholds are in the methodology.
What each label means and what to do
High-conviction distress, such as six or more months of payment staleness or a value decline of 30% or more since securitization.
Act now: a resolution is likely within months. Call the servicer desk about a note sale or discounted payoff.
Transferred to special servicing within 18 months, or a non-current payment status.
Build the relationship: contact the owner and the servicer, and set an alert for the next change.
Maturity within 24 months without a stronger condition.
Prepare: refinance risk is ahead. Keep it on a watchlist and revisit at each remittance.
No rule-based distress identified in the available sources.
No action needed today. Alerts tell you if that changes.
The loan page, panel by panel
One page per loan, built to take you from first look to first call. See a sample loan page.
Key numbers
Balance, DSCR, occupancy, value gap, maturity, units and per-unit figures, all from the latest monthly filing.
Distress and Opportunity Scores
Both scores with their bands, their movement over 90 days, a confidence rating and a component-by-component breakdown showing exactly where each point came from.
Why it is flagged
Every rule that fired, in plain language. No raw codes, no internal shorthand.
Monthly history
DSCR, occupancy, balance and payment status month by month, so trends are visible at a glance.
Acquisition strategy
A recommended route, timing and price reference built from the visible signals, with the risks stated next to it.
Deal contacts
Servicer desk, owner of record, officers behind the entity, mailing address and leasing office, with phone and email where confirmed.
Photos and resident reviews
Property photos from available sources, plus a consolidated summary of what residents actually say about living there.
The tools around the list
Saved screens and alerts
Save any Ranked filter. When a loan enters or leaves that screen, you get one email per change. No noise, no repeats.
Watchlists
Pin the deals you are working. They stay one click away and their alerts follow them.
Pipeline
Track each deal from first call to outcome, so the team knows who called whom and what came back.
Exports and API
Download the table as CSV, or pull the feed into your own systems with the API. Your screens, your data, your tools.
Data quality and coverage
Confirmed before shown
A property reaches you only when its owner of record and its loan are confirmed. Weak owner matches go to human review instead of the page.
No guesses
Anything we could not confirm is shown as not available rather than estimated. A missing number stays missing.
Whole-loan math
When a loan is split across multiple trust notes, balances and units are combined before any per-unit or leverage figure is computed. One note never stands in for the whole debt.
Daily accuracy checks
Automated checks run after every refresh: ownership, balances, servicers, names and page loads. Failures are held back from customers until fixed.
Refresh timing
Loan filings are checked daily. Property, ownership and photo enrichment follows each filing pass. Labels, scores and estimates are recomputed after new data lands, and saved-screen alerts go out once per change, so you are never emailed twice about the same event.
See it on a live deal
Walk through a real loan page with us, or tell us the county or metro you want covered.