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On-Demand - CMBS 201: Rating and Surveilling a CMBS Transaction - Part 2 - Surveillance Process Overview

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A review of what surveillance is will kick off this final of two live webinars in this series. Faculty will then discuss annual review, a variety of surveillance resources, watch list criteria, rating actions, upgrades (with SASB and Conduit examples) and downgrades. Viewers of this live webinar will be able to ask the faculty questions following the end of the presentation.



  • Erin Stafford, Managing Director Head of North American CMBS, DBRS Morningstar

    As managing director and head of North American CMBS at DBRS Morningstar, Erin Stafford is responsible for CMBS ratings activity in the U.S. and Canada. Previously, Erin managed CMBS surveillance for DBRS rated transactions and commercial mortgage servicer evaluations.

    Erin has over 20 years of experience working at rating agencies in the CMBS industry. Prior to joining DBRS Morningstar, Erin worked at Fitch Ratings with a focus on monitoring ratings of existing CMBS transactions. She has served as a co-chair of the Post Securitization committee of the CRE Finance Council and as chair of the Servicer's Forum of the CRE Finance Council. Erin has also served as chair of the International Committee for the Mortgage Bankers Association (MBA) and currently serves as a member of the board of governors (COMBOG).

    She holds an MBA from Northwestern University’s Kellogg Graduate School of Management with a concentration in real estate and a bachelor’s degree from the University of Wisconsin – Madison.

  • Roy Chun, Managing Director, Kroll Bond Rating Agency, Inc.

    Roy Chun is a Managing Director at Kroll Bond Rating Agency and head of the CMBS Surveillance group which includes CRE CLOs. Prior to joining KBRA, Roy was a Senior Director at Freddie Mac overseeing the surveillance and various master servicing responsibilities of the agency’s multifamily portfolio of loans and guarantees. Prior to his work at Freddie Mac, Roy was at Standard & Poor’s in a number of different roles including being a senior member of the Structured Finance team in charge of global surveillance initiatives and also as head of the CMBS surveillance team. Roy holds a BS in Engineering and Applied Mathematics from Stony Brook University and a MBA from Baruch College.

July 21, 2020
Tue 1:00 PM EDT

Duration 1H 0M

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