CMBS

Commercial mortgage-backed securities, or CMBS, are bonds or notes created via securitisation that are backed by commercial mortgages or other commercial real estate assets. CMBS originators are typically financial institutions that originate commercial real estate or commercial mortgage loans, including banks, building societies/savings & loans and mortgage finance companies. To create commercial mortgage-backed securities, or CMBS, institutions sell pools of their loans to a special-purpose vehicle, or SPV, which then sells the loans to a trust. The trust then repackages the loans as interest-bearing securities and issues them. This true sale of the loans to the SPV ensures that the CMBS is treated as bankruptcy-remote from the originator.


  • SCI Start the Week - 22 February

    A review of securitisation activity over the past seven days

    MM CLO seminar this week Join SCI on Thursday 25 February for our second Middle Market CLO seminar...

    News    22 February 2021
  • Small balance UK CMBS prepped

    Sector developments and company hires

    Small balance UK CMBS prepped Together Commercial Financial Services is marketing an unusual securi...

    Market moves    19 February 2021
  • 'Unique' CLN deal readied

    Sector developments and company hires

    ‘Unique’ CLN deal readied JPMorgan Chase Bank (JPMCB) is prepping the debut CLN...

    Market moves    17 February 2021
  • Maritime financing facility agreed

    Sector developments and company hires

    Maritime financing facility agreed Maritime and offshore alternative capital provider Fleetscape Ca...

    Market moves    16 February 2021
  • MBIA litigation settled

    Sector developments and company hires

    MBIA litigation settled MBIA Insurance Corporation has entered into an agreement to settle the li...

    Market moves    15 February 2021
  • SCI Start the Week - 15 February

    A review of securitisation activity over the past seven days

    Last week's stories Constructive outlook AXA Investment Managers answers SCI's questions Fly...

    News    15 February 2021
  • UK industrial CMBS prepped

    Sector developments and company hires

    UK industrial CMBS prepped Bank of America is in the market with a £340.1m CMBS sponsored...

    Market moves    10 February 2021
  • Special situations strategy launched

    Sector developments and company hires

    Special situations strategy launched Bardin Hill Investment Partners has announced the final clos...

    Market moves    9 February 2021
  • Constructive outlook

    Deborah Shire, global head of structured finance at AXA Investment Managers and deputy head of AXA I...

    Q: What were the drivers behind restructuring the AXA IM business into two key divisions –...

    The Structured Credit Interview    9 February 2021
  • NPL SRT agreement inked

    Sector developments and company hires

    NPL SRT agreement inked Hoist Finance has signed a co-operation agreement with Magnetar Capital t...

    Market moves    8 February 2021
  • SCI Start the Week - 8 February

    A review of securitisation activity over the past seven days

    Last week's stories Beware the ides of March The end of mortgage forbearance schemes is ominous...

    News    8 February 2021
  • Iberian NPL ABS performance eyed

    Sector developments and company hires

    Iberian NPL ABS performance eyed The cumulative collection ratio for the DUERO 1 non-performing loa...

    Market moves    5 February 2021
  • SCI Start the Week - 1 February

    A review of securitisation activity over the past seven days

    Last week's stories 2021 STACR debut Freddie Mac prints first CRT trade of 2021 inside guidance ...

    News    1 February 2021
  • UK social bond debuts

    Sector developments and company hires

    UK social bond debuts Kensington is prepping its inaugural STS and what is believed to be the UK ma...

    Market moves    27 January 2021
  • Call for aircraft ABS protections

    Sector developments and company hires

    Call for aircraft ABS protections Fitch reports that a material number of aircraft failed to be nov...

    Market moves    26 January 2021
  • SCI Start the Week - 25 January

    A review of securitisation activity over the past seven days

    Last week's stories CMBS sailing Stormy waters ahead and astern, but the US CMBS market has avoi...

    News    25 January 2021
  • 'Unique' CMBX reflects Covid trends

    Sector developments and company hires

    ‘Unique’ CMBX reflects Covid trends The IHS Markit CMBX.14 index is expected to...

    Market moves    21 January 2021
  • CLO team finds new home

    Sector developments and company hires

    CLO team finds new home Fidelity International has established a new private credit capability wi...

    Market moves    20 January 2021
  • CMBS sailing

    Stormy waters ahead and astern, but the US CMBS market has avoided the iceberg

    Although performance of the US CMBS sector has been better than would have been predicted at the sta...

    News    20 January 2021
  • Euro CLO equity yields dip

    Sector developments and company hires

    Euro CLO equity yields dip Annualised equity dividend yields across European CLOs averaged 12.9% in...

    Market moves    18 January 2021
  • Expanding footprint

    Jordan Milman, global head of structured products at Hayfin, answers SCI's questions

    Q: How and when did Hayfin become involved in the structured credit market? A: Hayfin launched a st...

    The Structured Credit Interview    15 January 2021