CRE Finance Council IRP™ (CREFC IRP™)
Commonly Known as CMSA IRP

CRE Finance Council Investor Reporting Package (CREFC IRP) Version 5.0
- Have a question regarding the IRP? Submit your question here.

Introductory Guide to Investor Reporting Package 

Overview:

The CRE Finance Council Investor Reporting Package (CREFC IRP) is a transparent, standardized set of bond, loan and property level information provided for all CMBS securitizations. It was initially rolled out in 1997 (Version 1.0 contained 100 of the most important bond/loan property level fields), and the latest Version, 5.0, was implemented on February 1, 2008. The CRE Finance Council IRP was developed for many reasons; chief among them was that various loan servicers were not providing the same information to the trustees on CMBS deals. Also, the trustee's statement to certificateholders (monthly remittance reports) were oftentimes in inconsistent formats (they now map to the IRP). Finally, investors were not privy to the same level of information from deal to deal, a problem remedied by the standard reporting format that the CRE Finance Council IRP provides.

The information in the CRE Finance Council IRP is contained in two different formats: electronic data files and reports
(supplementals, reports for operating statement analysis, and templates). The CRE Finance Council IRP is usually available at the Trustee and/or Master Servicer websites.

In 2003, the Mortgage Bankers Association of America (MBA) and CRE Finance Council announced that the Mortgage Industry Standards Maintenance Organization (MISMO), will be authorized to incorporate the contents of the CRE Finance Council Investor Reporting Package® (IRP) into the MISMO data dictionary. Under this arrangement, CRE Finance Council will retain both the ownership and the responsibility for revising and updating the IRP. MISMO will establish an extensible markup language (XML) - based data transfer specification that will provide information consistent with CRE Finance Council’s IRP. The Investor Reporting Committee has formed a working group with MISMO that is creating the XML specifications.

Resources:

CRE Finance Council Investor Reporting Package x 6.0 Preliminary Exposure Draft #1, issued January 12, 2009

CRE Finance Council Investor Reporting Package (CREFC IRP) Version 5.0
- Have a question regarding the IRP? Submit your question here. 

Lockbox Definitions as per Version 5.0 of the IRP

CMSA Interim Guidance on use of MBA Property Inspection Form (issued November 2008)

IRP Frequently Asked Questions

CMSA Investor Reporting Package (CMSA IRP ®) Version 4.1 

CMSA IRP Tutorial Presentation (updated May 2008)

CMSA-Europe Investor Reporting Package (UK only) 

Servicer Contact Sheet