The filings are public.
The read isn't.
Verstavo is a computational intelligence platform built to detect emerging distress in commercial real estate credit — before problems become obvious. Combining comprehensive CMBS and CRE data, deterministic analytics, and natural-language reasoning, it continuously monitors credit conditions, identifies early warning signals, and helps users investigate the risks behind them. From individual loans to the broader market, Verstavo turns credit surveillance into valuable, deeper understanding.
Public CRE disclosure, refined into a distress read you can act on — and audit.
We don't have secret data. We have a refinery.
The disclosure is public — SEC EDGAR, FDIC call reports, court dockets, WARN notices — and it's a flood of mismatched, half‑labeled, filer‑by‑filer mess no desk has time to reconcile. We pump in ~30 public feeds, crack them through proprietary models — a stress score, aggregate cross‑trust LTV, special‑servicing capture, the interest‑only‑at‑balloon exit gap — and hand back graded product: the loans that matter, scored, ranked, and tied to the events moving them.
Crude in. Decisions out. Anyone can download the filings. The work is turning ten thousand barrels of raw disclosure into the three loans you need to call today — and that's the part you can't get from a terminal.
Distress surveillance is the post‑2017 EDGAR ABS‑EE conduit universe — the loan‑level CMBS record that’s public — now paired with each matched loan’s at‑issuance underwriting (origination LTV, appraised value, underwritten DSCR) from the deal’s original prospectus. It doesn’t yet include most single‑borrower (SASB) and floating‑rate deals (144A, off‑EDGAR). Agency multifamily is not in this universe either — it is a different book, filed by a different agency under different rules, and it gets its own read rather than being folded in here. We tell you what we can see, and where the record ends.
You underwrote it once, at closing.
We re-underwrite it every quarter.
Underwriting is a one-time act. After closing, a book usually goes quiet until something breaks — a payment misses, a maturity arrives, a borrower asks for an extension. Portfolios imports your loans and keeps running the underwrite: every quarter, against today's rates, today's market, and the actual door each loan has to exit through.
The entire portfolio module is deterministic — the reads are computed from your numbers, not generated. No loan, balance, borrower or address is sent to an LLM, by design, so none of your book is model input. The one thing that does leave, and the reason it does, is named on /trust rather than left for you to find.
| CMBS analytics | Stress scores, the maturity wall, aggregate cross-trust LTV, and top-tenant exposure per loan — plus a profile for each actor behind it: trusts, originators, special servicers, and the B-piece buyer whose prospectus named that servicer. |
| Banks | One page per bank on the Call Report tape above its $100mn asset floor — CRE concentration against the regulator’s own supervisory lines, the franchise it funds that with, and the public CRE tape cut to the metros where its branches actually are. |
| The other holders | Banks and CMBS are two of five. The agency book (Fannie, Freddie, and the FHA-insured leg behind Ginnie Mae, which is the one read loan by loan), life-insurer CRE lending out of the 10-K, REIT property debt out of Schedule III, and CRE-CLO managers via ABS-15G. Four filing regimes, kept apart — the page will not add two of them together. |
| Distress signals | A daily bankruptcy feed (SEC / PACER / CourtListener / news), multi-state WARN layoffs across 51 states, tech layoffs, store closures, and a tenant-brand distress watch. |
| Geographic intelligence | Every U.S. county — all 3,222 county-equivalents, 1,307 of them in no metro area at all, which is where the metro view simply stops. Plus ZIP-level demographics, LODES worker flows, metro employment by sector, and a metro-to-submarket crosswalk built from public geographies. |
| Ask the data | A plain-language question on every page and in every entity drawer, answered off the tape with the metric it used named beside it — and scoped to what you are looking at, so a question the surface cannot answer gets a refusal that says why rather than a number that looks like one. |
| CRE Outlook | A published 12-month market forecast, generated and editorially reviewed. |
| Portfolios | Your own book, re-underwritten every quarter against today's market — see above. |
| Daily briefing | A personalized dashboard that leads with what needs your attention — not just where to look. |
Start with the market. Drill to the loan.
We refine public disclosure into a number you can defend. Start with the free market view, or see what the loan-level microscope unlocks.