Wells Fargo Commercial Mortgage Trust 2018-C48

Tranches, pool and monthly delinquency indicator for Wells Fargo Commercial Mortgage Trust 2018-C48.

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

Current pool balance: $716.2M (September 2026)
Original pool balance: $833.9M
Loans at issuance: 54
Closing date: 2018-12-20
Weighted average coupon at issuance: 5.14%
Weighted average LTV at issuance: 49.4%
30+ delinquent (latest): 3.35%
Realized stress score: 57.5
Net rating change since issuance: +0.00 notches

Tranches

Class	Original balance	Credit support (computed)	Coupon	CUSIP	Fitch	KBRA	S&P	Moody's	DBRS
A-1	$18.5M	97.78%	3.378% fixed	95001RAS8	PIF	WR	not yet reported	WR	not yet reported
A-2	$36.4M	93.41%	4.224% fixed	95001RAT6	PIF	WR	not yet reported	WR	not yet reported
A-3	$23.8M	90.56%	4.024% fixed	95001RAU3	PIF	WR	not yet reported	WR	not yet reported
A-4	$198.0M	66.82%	4.037% fixed	95001RAW9	AAA	AAA	not yet reported	Aaa	not yet reported
A-5	$274.4M	33.92%	4.302% fixed	95001RAX7	AAA	AAA	not yet reported	Aaa	not yet reported
A-S	$59.4M	26.80%	4.703% floating (WAC)	95001RBA6	AAA	AAA	not yet reported	Aa2	not yet reported
A-SB	$32.7M	22.88%	4.245% fixed	95001RAV1	AAA	AAA	not yet reported	Aaa	not yet reported
B	$40.7M	18.00%	4.904% floating (WAC)	95001RBB4	AA-	AA+	not yet reported	not yet reported	not yet reported
C	$38.6M	13.38%	5.121% floating (WAC)	95001RBC2	A-	A	not yet reported	not yet reported	not yet reported
D	$31.8M	9.56%	3.000% fixed	95001RAC3	BBB-	BBB+	not yet reported	not yet reported	not yet reported
E-RR	$14.0M	7.88%	5.121% floating (WAC)	95001RAE9	BBB-	BBB-	not yet reported	not yet reported	not yet reported
F-RR	$20.8M	5.38%	5.121% floating (WAC)	95001RAG4	BB-	BB	not yet reported	not yet reported	not yet reported
G-RR	$9.4M	4.25%	5.121% floating (WAC)	95001RAJ8	B-	B	not yet reported	not yet reported	not yet reported
H-RR	$35.4M	0.00%	5.121% floating (WAC)	95001RAL3	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	95001RAQ2	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	95001RAN9	not yet reported	not yet reported	not yet reported	not yet reported	not yet reported
X-A	$583.8M	Interest only	0.958% floating	95001RAY5	AAA	AAA	not yet reported	Aaa	not yet reported
X-B	$138.6M	Interest only	0.243% floating	95001RAZ2	AA-	AAA	not yet reported	not yet reported	not yet reported
X-D	$31.8M	Interest only	2.121% floating	95001RAA7	BBB-	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	54
Original loan balance	$834.3M
Weighted average coupon	5.14%
Weighted average LTV	49.4%
Median loan LTV	60.3%
Full-term interest only (share of balance)	48.1%
Balloon loans (share of balance)	100.0%
Largest loan (share of balance)	7.9%
Five largest loans (share of balance)	24.6%
Occupancy at issuance (weighted average)	93.3%

Realized outcomes

Months reported	93
Peak 30+ delinquency	13.48% (July 2020)
Ever severe (share of original balance)	18.68%
Ever modified (share of original balance)	0.94%
Past scheduled maturity (share of original balance)	2.87%
Non-performing matured (share of original balance)	39.83%
Maximum servicer advances (share of balance)	0.46%
Median DSCR, first year	1.90
Median DSCR, latest	1.98
Realized stress score	57.5

Property types

Property type	Original balance	Share of pool
Office	$150.2M	18.0%
Industrial	$127.5M	15.3%
Lodging	$116.4M	13.9%
Multifamily	$101.1M	12.1%
Retail	$98.2M	11.8%
Self storage	$24.2M	2.9%

Property type is reported for 74.0% of the pool balance; shares are of the full pool.

Largest loans

Property	Location	Original balance	Share of pool	Coupon	Originated
MIAMI INDUSTRIAL PORTFOLIO	Miami, FL	$66.1M	7.9%	4.98%	2018
Walgreens - Ginsberg Portfolio	not yet reported	$40.0M	4.8%	5.25%	2018
RIVERWORKS	Watertown, MA	$38.6M	4.6%	4.86%	2018
1000 WINDWARD CONCOURSE	Alpharetta, GA	$30.5M	3.7%	5.00%	2018
Starwood Hotel Portfolio	not yet reported	$30.0M	3.6%	5.15%	2018

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	19 of 19
Classes with a current rating in the dataset	16 of 19
Net rating change since issuance	+0.00 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.