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.

• Chinese reference centre upgrade 'credit positive'

  Sector developments and company hires

  Credit system upgraded The People's Bank of China’s Credit Reference Center last...

  Market moves    23 January 2020

• SCI Start the Week - 20 January

  A review of securitisation activity over the past seven days

  Stories of the week Consumer boost Santander completes innovative SRTs Under pressure US stu...

  News    20 January 2020

• 'No Data' threshold consultation underway

  Sector developments and company hires

  C-PACE partnership Eyzenberg & Company and Greenworks Lending have formed Eyzenberg Green...

  Market moves    17 January 2020

• SCI Start the Week - 13 January

  A review of securitisation activity over the past seven days

  Transaction of the week Goldman Sachs is marketing River Green Finance 2020, which is expected to b...

  News    13 January 2020

• First green CMBS prepped

  Goldman Sachs is marketing River Green Finance 2020, which is expected to be the first green Europea...

  News    8 January 2020

• THEAT 2007-1 and 2007-2 set to repay

  Sector developments and company hires

  Asia Pacific ISDA has appointed Su Yen Chia as its new head of Asia-Pacific public policy. Chia p...

  Market moves    7 January 2020

• SCI Start the Week - 23 December

  A review of securitisation activity over the past seven days

  Transaction of the week A pair of Italian non-performing loan securitisations – dubbed Fu...

  News    23 December 2019

• Canadian restructuring

  Alberta energy market stress hits CMBS

  Calgary-based real estate investment firm Strategic Group last week submitted an initial application...

  News    20 December 2019

• GSE price-fixing lawsuit settled

  Sector developments and company hires

  CLO manager transfer Hunt Investment Management has assigned collateral manager duties for the Hunt...

  Market moves    18 December 2019

• Structured credit pro returns to the buy-side

  Sector developments and company hires

  EMEA Kingswood Holdings has appointed Lindsey McMurray and Howard Garland to its board from Polle...

  Market moves    17 December 2019

• SCI Start the Week - 16 December

  A review of securitisation activity over the past seven days

  Transaction of the week The National Bank of Greece has completed its first secured non-performing...

  News    16 December 2019

• Sticking with the programme

  ABSPP hits new high, but total volumes remain low

  Latest figures from the ECB show that its ABSPP holdings are at an all-time high. However, the progr...

  News    12 December 2019

• Alternative credit platform expands

  Sector developments and company hires

  CFO appointed Annaly Capital Management has appointed Serena Wolfe as cfo and a member of its ope...

  Market moves    10 December 2019

• SCI Start the Week - 9 December

  A review of securitisation activity over the past seven days

  Transaction of the week NIBC recently priced the first fully-compliant ESG CLO, North Westerly VI,...

  News    9 December 2019

• Core qualities

  Caroline Chen, svp and research analyst at Income Research & Management, answers SCI's quest...

  Q: How and when did Income Research & Management become involved in the securitisation marke...

  The Structured Credit Interview    9 December 2019

• Turbo feature for CLO reset

  Sector developments and company hires

  Early upgrade DBRS Morningstar has taken the unusual step of upgrading from double-B (low) to dou...

  Market moves    9 December 2019

• Alternative appetite

  Euro CMBS specialist property exposure to rise

  Appetite for European CMBS secured by specialist or alternative assets is expected to grow in 2020,...

  News    6 December 2019

• ABS head retired

  Sector developments and company hires

  ABS head retires Janus Henderson’s head of ABS investment Ed Panek has now retired from...

  Market moves    6 December 2019

• SCI Start the Week - 2 December

  A review of securitisation activity over the past seven days

  Transaction of the week Credit Agricole is marketing a securitisation of Dutch consumer loans origi...

  News    2 December 2019

• Euro lending support announced

  Sector developments and company hires

  Euro lending support announced The EIF has committed €100m to online lending marketplace...

  Market moves    28 November 2019

• Italian market developments 'positive' for ABS

  Sector developments and company hires

  Italian market developments ‘positive’ for ABS Recent market developments in i...

  Market moves    27 November 2019