BUYER'S GUIDE
Best CRE Debt Management Software for the 2027 Maturity Wall
Updated October 2026 · 11 min read
TL;DR
If you own more than a handful of loans, a dedicated debt platform pays for itself in surprises avoided. LoanBoss is the most complete borrower-side tool: vendor-built loan abstracts, critical dates, lender-specific covenant tests and hedge values. Pillar suits institutional teams that want debt tracking in the same system as their lender and investor CRM. For refinance research, CRED iQ shows maturities, distress and refinance models across securitized and agency loans, with published prices from $625 a month. When it is time to shop a loan, Lev runs the lender process end to end, and StackSource is a lending marketplace that is free during early access.
When a loan is two years from maturity, the work is tracking: every extension notice, rate cap expiry and covenant test on a calendar, calculated the way each lender calculates it. Inside a year, the work becomes shopping: benchmarking terms, sizing proceeds and taking the deal to lenders. Most owners still do both in spreadsheets and email. This guide covers the software built for the borrower side of that job, from dedicated debt management platforms to refinance data and lender marketplaces.
Lenders and servicers have their own tools for the same maturities; see the companion guide to CRE loan origination, servicing and monitoring software.
What the Numbers Say About the 2027 Maturity Wall
"The 2027 maturity wall" took hold after S&P Global Market Intelligence projected in September 2024 that US commercial real estate mortgage maturities would peak at $1.26 trillion in 2027 [3]. That projection was built from property records, with many missing maturity dates filled in by a statistical model. Two years on, the primary sources describe a wall that is wider and earlier than one peak year:
- The Mortgage Bankers Association counts $875 billion of commercial and multifamily mortgages held by lenders and investors (17% of $5.0 trillion outstanding) scheduled to mature in 2026, and $652 billion in 2027. These are unpaid balances as of December 31, 2025, so the amounts actually due will be lower [1].
- S&P's updated model says loan extensions moved the jump it had expected into 2026, an 18.8% increase on 2025. Its updated 2027 figure sits in a gated report, so the $1.26 trillion still quoted in 2026 articles is the 2024 projection [4].
- MBA says high rates pushed many loans into extensions or modifications, so more debt rolled into 2025 and 2026 than expected [2]. Trepp adds that many near-term bank and CMBS loans carry extension options or have already been modified, so stated schedules likely overstate what must refinance in any single year [5].
- Trepp counts $76.6 billion of private-label CMBS loans reaching hard maturity in 2026, meaning no contractual extension options are left, with 39% of that falling in the fourth quarter [6].
For an owner, the exact peak year matters less than the dates on your own loans. Extensions are still happening, but Trepp suggests judging one by its terms: whether the borrower had to pay down principal, add recourse or accept a higher spread [7]. The tools below help you see those dates and tests coming, model the options, and take a refinance to market. We do not forecast interest rates in this guide.
Things to Know Before the List
- Abstraction is the hard part. A debt platform is only as good as the loan data in it, and someone has to read every loan agreement, amendment and extension letter. LoanBoss does this as part of onboarding; Pillar uses AI extraction from loan documents and lender statements. Ask who keeps the abstract current after a modification.
- Covenant math is lender-specific. Two lenders can define DSCR or debt yield differently (trailing period, reserves, management fees, recurring capital). A tracker that applies one formula to every loan will give you the wrong answer on some of them.
- Data tools are not trackers. CRED iQ shows securitized and agency loans across the market, which is useful for benchmarking and for checking how your own securitized loan is reported, but it does not hold the terms of your private loans.
- Marketplaces do not track debt. Lev and StackSource help you run a refinance. They are worth adding once a maturity is close, not as a substitute for a maturity calendar.
Quick Comparison
| Tool | Best for | Tracks your loans | Maturity and covenant alerts | Refinance help | Published pricing |
|---|---|---|---|---|---|
| LoanBoss | Owners with many loans across lender types | Yes, vendor-abstracted | Critical dates; DSCR and debt yield tests per lender | Prepayment, defeasance and hedge values | Pricing on request |
| Pillar | Institutional teams that want debt next to CRM | Yes, AI extraction | Tracks maturities and covenants; alert detail not published | Lender relationships linked to each loan | Pricing on request |
| CRED iQ | Refinance research and benchmarking | Securitized and agency loans only | Maturity pipeline, watchlists, distress alerts | Valuation and refinance models | $625 to $3,850/month; Enterprise custom |
| Lev | Running a refinance or new financing | Enterprise loan book | Enterprise surveillance against covenant minimums | Lender matching, outreach, term comparison | Pricing on request |
| StackSource | Testing lender appetite on a deal | No | No | Lender matching, daily rate benchmarks | Free during early access |
The 5 Best Tools for Managing CRE Debt Through the Maturity Wall
1. LoanBoss
Best for: Owners and asset managers carrying dozens of loans across agency, bank, bridge, CMBS and life company lenders
LoanBoss is built for the borrower side of the table, which few tools serve directly. Its team abstracts each loan (the vendor says about 400 fields per loan, with two rounds of QA) and links it to your property accounting data and live interest rates, so metrics such as weighted average maturity and rate stay current without a spreadsheet refresh. Critical date alerts cover extension notices, interest rate step-downs, funding deadlines and repair schedules, and DSCR and debt yield tests can be set up with each lender's own adjustments, with a projection of next year's result.
For refinance and payoff decisions it shows live hedge mark-to-market values, replacement cap costs and swap pricing, estimates prepayment and defeasance costs, tracks escrows, reserves and recourse, and exports SREO reports. Testimonials on its site come from firms including The Connor Group, CBRE and Origin Investments. Pricing is by demo, independent coverage is thin, and the result depends on the quality of that first abstraction, so ask how the team handles amendments and modifications after go-live.
What's good
- Built for borrowers, not adapted from lender software
- Covenant tests configured to each lender's definitions
- Critical dates, hedges, defeasance and SREO in one place
- Vendor does the loan abstraction
What's not
- No published pricing
- Value depends on abstraction quality and accounting integration
- Tracks existing debt; does not source new lenders
Pricing: Pricing on request; demo-led.
2. Pillar
Best for: Institutional sponsors that want debt, equity and lender relationships in one system
Pillar is a portfolio platform for institutional CRE teams. Its Debt module tracks loan balances, interest rates, maturity dates and covenants, uses AI to extract data from loan documents and lender statements, and stores active and historical loans in a standard format with loan book analytics. The distinctive part is the link to Pillar's CRM: lender relationships sit on the same record as the loans they made, which helps when you are deciding whom to call about a refinance.
The same platform covers investor fundraising (Equity) and property dashboards (Asset Intelligence), so it makes most sense if you would use more than the debt module. Pillar is based in Indianapolis and is younger than the established CRE suites, pricing is by demo, and the site does not detail how covenant alerts or critical dates work, so ask to see them on one of your own loans.
What's good
- Debt, lender CRM and investor tools in one system
- AI extraction from loan documents and lender statements
- Lender relationships linked to each loan
- Loan book analytics across active and historical debt
What's not
- No published pricing
- Covenant alert detail not published
- More platform than a debt-only team needs
Pricing: Pricing on request.
3. CRED iQ
Best for: Owners, advisors and brokers researching refinance risk across securitized and agency loans
CRED iQ is a data platform rather than a debt tracker. It covers securitized CRE debt (CMBS conduit, SASB, CRE CLO and Fannie Mae, Freddie Mac and Ginnie Mae loans) joined to public records, sales, ownership and comps, and the vendor says it covers more than $2 trillion of loans. The web platform includes a maturity pipeline, instant valuation and refinance models, watchlists, portfolio uploads and distress alerts.
For an owner it is useful in two ways: checking how a securitized loan on your own property is reported and modeled, and benchmarking what similar properties carry. Pricing is published, which is rare here: Solo is $625 a month and Starter $1,250 a month, both billed annually, and Professional at $3,850 a month adds API access. The limit is coverage: loan performance data comes from securitized and agency loans, while bank balance sheet loans, the largest group maturing in 2026 by MBA's count, appear only through recorded mortgage data.
What's good
- Published pricing from $625 a month
- Maturity pipeline, refinance models and distress alerts
- CMBS, SASB, CRE CLO and agency coverage in one place
- API on Professional, MCP server on Enterprise
What's not
- Does not hold the terms of your private loans
- Bank loan performance not covered
- Trial is a view-only demo for qualified leads
Pricing: Solo $625/month, Starter $1,250/month, Professional $3,850/month (billed annually); Enterprise custom; DCF add-on $200/month per seat.
4. Lev
Best for: Capital markets teams and owners running a refinance or new financing
When a maturity is close, the job changes from tracking to shopping. Lev runs that debt process in one deal record: lender search and matching, outreach, extraction and side-by-side comparison of term sheets, document collection and closing, with recent market terms and lender activity alongside. It is built for capital markets, acquisitions and loan origination teams.
Lev for Enterprise adds two tools that overlap with the lender side: a servicing view with a searchable loan book that pulls terms such as maturity and minimum DSCR from documents, and portfolio surveillance that compares current operating metrics with covenant minimums and flags changes. Pricing is not published, and the product is moving quickly (the current release is Lev 3.0), so confirm which modules a plan includes. Lev Capital, the company's former brokerage arm, says it is no longer active, so Lev is a software vendor rather than your broker.
What's good
- Lender search to closing in one deal record
- Term sheet extraction and comparison
- Recent market terms and lender activity for context
- Enterprise surveillance checks covenants
What's not
- No published pricing
- Servicing and surveillance sit in the enterprise tier
- Fast-changing product; confirm what your plan includes
Pricing: Pricing on request.
5. StackSource
Best for: Brokers and borrowers who want to test lender appetite on a deal at no cost
StackSource is a commercial real estate lending marketplace. You post a deal once and its matching algorithm notifies only lenders whose geography, asset type and loan size criteria fit; lenders set their criteria and see filtered deals. Dashboards add daily rate updates across lender types and loan products, benchmark rates, lender behavior trends and recent deals.
The marketplace is free during early access, and pricing after that is not published. StackSource previously operated as a technology-enabled financing brokerage, and this marketplace is a relaunch, so the depth of its lender network and data is still proving out. Use it alongside your existing lender relationships, not instead of them.
What's good
- Free during early access
- Post once, reach only matching lenders
- Daily rate updates and benchmarks
- Lender behavior trends
What's not
- Relaunched marketplace with a short record in this form
- Pricing after early access not published
- Does not track existing debt
Pricing: Free during early access; later pricing not published.
Also Worth Knowing
- Backshop's maker, CMBS.com, sells CMBS PRO, a version of its tools for smaller owners and borrowers, at $20 a month or $200 a year. The product page gives little feature detail, so check what is included before relying on it.
- Trepp is the long-standing source for CMBS loan data and surveillance. It is built mainly for lenders and investors and is covered in the lender guide.
- Chatham Financial, a long-time debt and hedging adviser, lists a portfolio debt tool as coming soon with a waitlist (checked October 2026).
- If your accounting runs on a large property or investment management suite, ask whether it has a debt module before buying a separate tool. We could not check those modules for this guide.
How to Choose
Start with how many loans you carry and how close the nearest maturity is.
- Choose LoanBoss if you carry many loans across lender types and want every critical date, covenant test and hedge value tracked to each lender's terms.
- Choose Pillar if you want debt tracking inside the same system as your lender and investor relationships, and would use its fundraising and asset tools too.
- Add CRED iQ if you need market data on securitized and agency loans for refinance research, or own properties financed with CMBS or agency debt.
- Use Lev or StackSource when a maturity or extension decision is close and you need to take a deal to lenders: Lev to run the full process, StackSource to test appetite for free while early access lasts.
- With only a few loans, a well-kept spreadsheet with every extension notice, cap expiry and covenant test date may be enough. The tools above earn their cost as loan count and lender variety grow.
For deal underwriting before a refinance, see the AI underwriting software guide and the Investment & Valuation buyer's guide. To plug loan and property data into AI assistants, see the agent-ready CRE data guide.
How We Researched This Guide
We worked from each vendor's own website, pricing page and product pages, checked in October 2026, and only included tools listed in this directory (LoanBoss was added for this guide). We did not run these products on live portfolios ourselves. Prices are the vendor's published rates; where a vendor does not publish prices we say so. Vendor claims about coverage, field counts and customers are labeled as claims. Market figures come from the Mortgage Bankers Association, S&P Global Market Intelligence and Trepp pages listed under Sources, read at the source. Rankings reflect fit for borrowers and owners, and no vendor paid for placement.
Sources
- MBA NewsLink: "MBA: 17% of Commercial and Multifamily Mortgage Balances to Mature in 2026", Mortgage Bankers Association, February 10, 2026
- MBA NewsLink: "Chart of the Week: Commercial Real Estate Loan Maturity Volumes", Mortgage Bankers Association, March 3, 2026
- "Commercial real estate maturity wall $950B in 2024, peaks in 2027", S&P Global Market Intelligence, September 5, 2024
- "Extensions shift the CRE maturity wall, but 2026 could now be a tougher year" (report summary), S&P Global Market Intelligence; full report gated
- "Inside the $5.1T CRE Debt Universe: Banks and GSEs Drove Growth in Q2 2026", Trepp, October 8, 2026
- "October 2026 CMBS Hard Maturity Volume Rises as Refinance Risk Shifts to Multifamily and Hospitality", Trepp, October 6, 2026
- "Why 'Extend and Pretend' Misreads CRE Maturity Stress", Trepp, June 5, 2026
Frequently Asked Questions
Is 2027 really the peak year for CRE loan maturities?
It depends on whose numbers you read. S&P Global Market Intelligence projected in 2024 that maturities would peak at $1.26 trillion in 2027, but its later update says extensions moved the jump into 2026. The Mortgage Bankers Association counts $875 billion of commercial and multifamily mortgages scheduled to mature in 2026 and $652 billion in 2027. Either way, a large volume of loans comes due across 2026 and 2027.
What is CRE debt management software?
Software that holds the terms of every loan in a portfolio (balances, rates, maturities, extension options, covenants, hedges and reserves), tracks critical dates, runs covenant tests and produces debt reports. LoanBoss and the Debt module in Pillar are examples built for owners rather than lenders.
How do I track loan covenants across a portfolio?
Abstract each loan's covenant definitions, then calculate DSCR and debt yield the way each lender defines them from your property financials. LoanBoss configures tests per lender and projects next year's results; spreadsheets work for a few loans but break down as lender variety grows.
Can software find a lender for a refinance?
Marketplaces and financing platforms can match a deal to lenders whose criteria fit and help you compare terms. Lev runs the full lender process in one record, and StackSource is a lending marketplace that is free during early access. You still negotiate the terms.
How much does CRE debt management software cost?
LoanBoss, Pillar and Lev quote on request. CRED iQ publishes plans from $625 a month billed annually. StackSource is free during early access, and CMBS.com lists CMBS PRO at $20 a month.
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