Pensford

Pensford is an interest rate advisory firm working exclusively with commercial real estate borrowers. It advises on interest rate risk and hedge structure, covering new financings, replacement hedges, and ongoing portfolio monitoring, and describes itself as an outsourced interest rate risk management team for its clients.

The firm publishes a set of analytical tools that borrowers can use without engaging it: live SOFR forward curves, a quick cap pricer, a cap and floor pricer, Fed funds probabilities, and defeasance, yield maintenance, and make whole calculators. Its market commentary includes The Pensford Letter, The Rate Guy podcast, white papers, and case studies.

Pensford states that it takes no referral fees and has no hidden incentives or conflicts of interest, that it prefers to be in the conversation while a borrower is still exploring financing options rather than the week of closing, and that clients hear back within two hours including evenings, weekends, and holidays. The office is at 1300 South Mint Street, Suite 410, Charlotte, NC 28203.

Fees are not published. Borrowers should ask how the firm is compensated on a given hedge or defeasance before engaging, since the site's positioning rests on being paid by the client rather than by a counterparty.