In one sentence
The CRE Finance Council Investor Reporting Package, the standard set of files and data fields servicers use to report on securitized commercial mortgage loans.
The longer version
The package standardizes what investors receive: loan setup data, periodic updates, property financial information, watchlist entries, and delinquency reporting, all in defined formats. Standardization is what makes loan level data comparable across deals and servicers.
For a servicer the practical burden is data completeness at boarding. Fields that were never captured at closing, or captured inconsistently, surface as reporting exceptions every period afterwards. Fixing them later means going back to the closing file, which is slower than capturing them once.
Common questions
- Who uses the CREFC IRP?
- Master and primary servicers reporting on securitized commercial mortgage loans, and the investors, trustees, and rating agencies who consume that reporting.
- What is in the package?
- Standardized files covering loan setup, periodic loan and property updates, operating statement data, watchlist status, and delinquency and loss reporting.
- Why does boarding data quality matter so much?
- Because the reporting fields are populated from the boarding record. Anything missing at boarding becomes a recurring exception until someone returns to the closing file to fill it.
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