Compare · facts checked October 29, 2026

cmbs.news vs Morningstar Credit Analytics

cmbs.news is a free, open reading of the loan-level filings public CMBS trusts make with the SEC every month: a page per loan, servicer comment facts, an open distress index, an API and an MCP server. A Pro tier with alerts, full history and bulk files is coming. Morningstar Credit Analytics is Morningstar's CRE and CMBS surveillance and analytics business, covering conduit, SASB, CRE CLO and agency deals, with credit models and a Claude connector for licensed users.

cmbs.news compared with Morningstar Credit Analytics
What it offers	cmbs.newsfree today	Morningstar Credit Analyticspaid product
Coverage
Public conduit CMBS loans	Every public trust that files Schedule AL source	Yes source
Private single-borrower (SASB, Rule 144A) deals	Not filed with the SEC source	Yes source
CRE CLOs	No source	Yes source
Agency multifamily (Freddie Mac, Fannie Mae)	No source	Yes source
Property and ownership records beyond CMBS	CMBS-financed properties only source	Not published
Depth
Loan-level data	One page per loan source	Loan- and deal-level data source
Servicer or analyst commentary	Facts and excerpts from special servicer comments in 10-D reports Pro, coming: Comment facts in bulk, with what changed from last month source	Not published Its release does not mention servicer commentary
Servicer watchlist flags	Its own rule-based watch flags; the CREFC watchlist is not public source	Watchlist activity and special-servicing flags source
Bond classes, tranche analytics or cash-flow models	Certificate classes, CUSIPs, credit support and losses; no cash-flow models source	Tranche analytics and credit models source
Publishes a delinquency or distress index	Open distress index, CSV and embed source	Not published
Access
API	Free JSON API, no key Pro, coming: Unlimited calls, commercial use and webhooks for the monthly change feed source	Not published
AI connector (MCP)	Free remote MCP server Pro, coming: Unlimited agent use source	Claude connector for licensed users, June 2026 source
Free tier or trial	Everything on the site source	Not published Demo on request
How you get it	Free, no login, no key source	Premium license; demo on request source
Alerts on loans, portfolios or markets	Free alert sign-up on any single loan; emails start once delivery is switched on Pro, coming: Alerts on whole portfolios, metros, property types and tenants source	Not published
Bulk files or data feed	CSV of every list Pro, coming: Full monthly history and bulk files (CSV, Parquet) source	Not published

● yes · ◐ partly or on some plans · ○ no · Not published: not in a public source we could find. Each "source" link is the page the fact came from.

Where each is stronger

cmbs.news

Janover Capital LLC · founded 2026

Free, with no login, for every page, the API and the MCP server
Every figure links to the SEC filing it came from, and the method is public
Special servicer comment facts, appraisal reductions and certificate classes from the trusts' 10-D reports
An open, reproducible monthly distress index with CSV and an embeddable chart

Keep in mind

Covers only the public trusts that file with the SEC: no private SASB deals, CRE CLOs, agency or bank loans
No servicer watchlist (it is not filed with the SEC) and no bond cash-flow models
Figures are servicer-reported and run about a month behind
Launched in 2026: monthly history only goes back about a year

Best for: Owners, brokers, lenders, appraisers, reporters and AI agents that need the public-trust loans, servicer comment facts and an open index without a subscription.

Start with a loan lookup

Morningstar Credit Analytics

Morningstar, Inc.

Coverage across conduit, SASB, CRE CLO and agency deals
Deal- and tranche-level analytics and CMBS credit models (PD, LGD, expected loss)
Watchlist and special-servicing flags
One of the first CMBS data vendors with a Claude MCP connector (June 2026)

Keep in mind

Requires a premium license; demos by request
No public free tier or trial we could find

Best for: Institutions that want surveillance, tranche analytics and credit models aligned with Morningstar DBRS, inside their existing license and AI tools.

Morningstar Credit Analytics's site

Try it now, free

Everything below works today without an account.

One SoHo SquareA loan page with the special servicer's comment facts, appraisal reduction and 12-month history.
The WireThis month's transfers, delinquencies, appraisal reductions and losses.
Distress indexMonthly delinquency and special-servicing rates, open data.
Tenant exposureEvery loan a tenant backs, with lease dates.
Trusts and bondsParties, certificate classes with CUSIPs, and losses.
Connect an AI assistantclaude mcp add --transport http cmbs-news https://cmbs.news/mcp

Coming in Pro

The free version stays free. Pro is for people who track these loans for a living:

Alerts on whole portfolios, metros, property types and tenants, not just one loan at a time
Full monthly history for every loan, as files or through the API
Special servicer comment facts in bulk, with what changed from last month
Unlimited API and MCP use for commercial work, and webhooks for the monthly change feed
Bulk files of every loan, property, bond class and liquidation (CSV and Parquet)
Unlimited seats on one subscription

Join the waitlist

Common questions

What is the main difference between cmbs.news and Morningstar Credit Analytics?

cmbs.news: cmbs.news is a free, open reading of the loan-level filings public CMBS trusts make with the SEC every month: a page per loan, servicer comment facts, an open distress index, an API and an MCP server. A Pro tier with alerts, full history and bulk files is coming. Morningstar Credit Analytics: Morningstar Credit Analytics is Morningstar's CRE and CMBS surveillance and analytics business, covering conduit, SASB, CRE CLO and agency deals, with credit models and a Claude connector for licensed users.

Who is cmbs.news best for?

Owners, brokers, lenders, appraisers, reporters and AI agents that need the public-trust loans, servicer comment facts and an open index without a subscription.

Who is Morningstar Credit Analytics best for?

Institutions that want surveillance, tranche analytics and credit models aligned with Morningstar DBRS, inside their existing license and AI tools.

Other comparisons

cmbs.news is published by Janover Capital LLC, so this page compares our own product; we list what the other firm does better, and we have no relationship with it. Names and marks belong to their owners. Facts come from each firm's public pages and named third-party reviews, checked October 29, 2026; products change, so confirm with each firm. Corrections: hello@cmbs.news.