CREFC IRP v8.1 Adopted on May 22, 2020

The CRE Finance Council is formally adopting CREFC Investor Reporting Package™ (IRP™) Version 8.1 after extensive work, discussion, and revision by the IRP Committee and an open comment period to CREFC membership. IRP version 8.1, which is effective immediately, makes a number of changes in response to the ongoing COVID-19 pandemic. 
  
The IRP v8.1 includes changes to the Loan Modification/Forbearance Best Practices document to include guidance on reporting of forbearances and modifications during this time of COVID-19. Details on the items discussed are explained more fully in the narrative of the best practice document.
  
Download: 
CREFC IRP v8.1 Loan Modification/Forbearance Best Practices 
CREFC IRP v8.1 Loan Modification/Forbearance Change Matrix 
  
The CREFC IRP is a transparent, standardized set of bond, loan, and property- level information provided for all CMBS securitizations. Initially rolled out in 1997, Version 1.0 contained 100 of the most important bond/loan property level fields. Version 8.0 went into effect on September 30, 2016 .
  
The changes are the result of numerous conversations with industry stakeholders. We would like to recognize the work of the CREFC IRP Committee, with special thanks to Grace Holst of Argentic Services, and co-chairs Craig Zedalis of Wells Fargo and Heather Wagner of SS&C.
  
Comments or questions? Contact Kathleen Olin at 202-679-9129.