About Conduit.loans

Conduit.loans does two pieces of arithmetic that come before any conversation with a conduit lender: how big a loan the property will carry, and what it costs to get out of one early. Both run on public numbers. The sizing limits come from what conduit loans in public CMBS trusts were actually underwritten to over the last year, as the trusts report it to the SEC. The prepayment math runs on the U.S. Treasury’s daily par yield curve, fetched live when the page loads.

Who runs it

Janover Capital LLC, a commercial mortgage desk, publishes Conduit.loans. The desk arranges commercial real estate financing. We are not a lender, and nothing here is an offer to lend. When you want real terms, the quote page sends your property to the desk.

Where the numbers come from

• Underwriting ranges: every public CMBS trust’s monthly ABS-EE filing on SEC EDGAR (Regulation AB, Schedule AL). The underwriting page lists the trusts and the rules we apply.
• Treasury yields: U.S. Department of the Treasury, Daily Treasury Par Yield Curve Rates.
• Loan terms and formulas: the prospectuses of specific 2026 conduit deals, the Fannie Mae and Freddie Mac term sheets, and federal regulations, each linked where it is used.

Corrections go to hello@conduit.loans.