Wells Fargo Commercial Mortgage Trust 2017-C38

Tranches, pool and monthly delinquency indicator for Wells Fargo Commercial Mortgage Trust 2017-C38.

Data as of loan data through September 2026; ratings as held in the dataset at build

Current pool balance: $705.4M (October 2017)
Original pool balance: $1.15B
Loans at issuance: 306
Closing date: 2017-07-13
Weighted average coupon at issuance: 4.37%
Weighted average LTV at issuance: 33.7%
30+ delinquent (latest): 0.00%
Realized stress score: 0.0
Net rating change since issuance: +0.32 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$32.9M	97.07%	1.968% fixed	95001MAA8	PIF	WR	not yet reported	WR	not yet reported
A-2	$42.5M	93.29%	3.043% fixed	95001MAB6	PIF	WR	not yet reported	WR	not yet reported
A-3	$8.6M	92.53%	3.090% fixed	95001MAC4	PIF	WR	not yet reported	WR	not yet reported
A-4	$300.0M	65.82%	3.190% fixed	95001MAE0	AAA	AAA	not yet reported	Aaa	not yet reported
A-5	$366.3M	33.22%	3.453% fixed	95001MAF7	AAA	AAA	not yet reported	Aaa	not yet reported
A-S	$119.4M	22.59%	3.665% floating (WAC)	95001MAG5	AA	AAA	not yet reported	Aa1	not yet reported
A-SB	$36.1M	19.38%	3.261% fixed	95001MAD2	AAA	AAA	not yet reported	Aaa	not yet reported
B	$50.6M	14.88%	3.917% floating (WAC)	95001MAK6	A	AA-	not yet reported	not yet reported	not yet reported
C	$44.9M	10.88%	3.903% floating (WAC)	95001MAL4	BBB-	A-	not yet reported	not yet reported	not yet reported
D	$49.2M	6.50%	3.000% fixed	95001MAP5	B	BBB-	not yet reported	not yet reported	not yet reported
E	$22.5M	4.50%	4.493% floating (WAC)	95001MAR1	CCC	B	not yet reported	not yet reported	not yet reported
F	$11.2M	3.50%	4.493% floating (WAC)	95001MAT7	CC	CCC	not yet reported	not yet reported	not yet reported
G	$39.3M	0.00%	4.493% floating (WAC)	95001MAV2	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
R	not yet reported	not yet reported	not yet reported	95001MAZ3	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
V	not yet reported	not yet reported	not yet reported	95001MAX8	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$786.4M	Interest only	1.238% floating	95001MAH3	AAA	AAA	not yet reported	Aaa	not yet reported
X-B	$214.9M	Interest only	0.719% floating	95001MAJ9	BBB-	AAA	not yet reported	not yet reported	not yet reported
X-D	$49.2M	Interest only	1.493% floating	95001MAM2	B	BBB-	not yet reported	not yet reported	not yet reported

Credit support is computed from the class stack order in the prospectus: the share of the deal's principal balance in classes junior to the class. Interest-only classes carry a notional balance and no principal support figure. Ratings are the latest held in the dataset for each class and agency; NR means the agency shows the class as not rated, WR that the rating was withdrawn, PIF that the class has been paid in full. Any other status value is shown exactly as the agency reports it. A + after a CUSIP marks a class with companion CUSIPs in the dataset.

Pool at issuance

Loans	306
Original loan balance	$1.52B
Weighted average coupon	4.37%
Weighted average LTV	33.7%
Median loan LTV	5.7%
Full-term interest only (share of balance)	56.5%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	7.6%
Five largest loans (share of balance)	21.6%
Occupancy at issuance (weighted average)	90.2%

Realized outcomes

Months reported	5
Peak 30+ delinquency	0.00% (August 2017)
Ever severe (share of original balance)	0.00%
Ever modified (share of original balance)	0.00%
Past scheduled maturity (share of original balance)	0.00%
Non-performing matured (share of original balance)	0.00%
Maximum servicer advances (share of balance)	0.00%
Median DSCR, first year	not yet reported
Median DSCR, latest	not yet reported
Realized stress score	0.0

Property types

Property type	Original balance	Share of pool
Retail	$456.3M	30.0%
Office	$413.4M	27.2%
Lodging	$305.9M	20.1%
Industrial	$116.1M	7.6%
Other (code 98)	$94.3M	6.2%
Self storage	$66.0M	4.3%
Manufactured housing	$27.3M	1.8%
Mixed use	$21.3M	1.4%
Multifamily	$19.4M	1.3%

Property type is reported for 100.0% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
225 & 233 Park Avenue South	New York, NY	$115.0M	7.6%	3.43%	2017
Mall of Louisiana	Baton Rouge, LA	$60.0M	3.9%	3.66%	2017
Marketplace at Millcreek	Buford, GA	$55.0M	3.6%	3.67%	2017
SAVA Holdings IHG Portfolio	not yet reported	$50.0M	3.3%	4.49%	2017
Wilshire Pacific Plaza	Los Angeles, CA	$48.2M	3.2%	4.40%	2017

Delinquency and stress indicator

▬ 30+ days delinquent · ▬ Distressed (90+, foreclosure, REO, non-performing matured)

Monthly shares of the deal's reported balance, from the deal indicator series in the dataset. Months in which fewer than half of the reported loans carry a delinquency status code are not plotted.

Ratings

Classes with a CUSIP	18 of 18
Classes with a current rating in the dataset	15 of 18
Net rating change since issuance	+0.32 notches (balance-weighted)
Delinquency threshold crossed	Not crossed in the dataset
First downgrade	None recorded

Sources: SEC Form ABS-EE asset-level reports, Form 10-D distribution reports and the deal prospectus; rating histories published under SEC Rule 17g-7(b) and agency releases. Definitions are in the methods note on the market page.