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.


  • Ramp-up continues

    Barclays completes capital relief trade

    News    29 November 2021
  • SCI Start the Week - 29 November

    A review of SCI's latest content

    Last week's news and analysis Advanzia advances German credit card ABS debuts Partial...

    News    29 November 2021
  • Slowly widening

    European ABS/MBS market update

    With investors already looking ahead to 2022, the European ABS/MBS primary market is slowly thinning...

    News    26 November 2021
  • SCI forum: What are the benefits of forward flow structures for the securitisation market?

    Our panel of market practitioners respond to readers' questions

    Conor Houlihan, partner at DLA Piper, Ireland Current dynamics in the banking sector are such that...

    Talking Point    26 November 2021
  • Syon upgraded on stable performance

    Sector developments and company hires

    KBRA has completed a surveillance review of Lloyds’ synthetic RMBS Syon Securities 2020-2....

    Market moves    25 November 2021
  • Upgrades anticipated after CMBS updates

    Sector developments and company hires

    Moody’s has updated three commercial real estate sector methodologies, following requests...

    Market moves    22 November 2021
  • School's out?

    Future of PBSA CMBS sector scrutinised

    Conflicting factors such as depressed occupancy levels and excellent collateral properties, or a hig...

    News Analysis    18 November 2021
  • GSE scorecard released

    Sector developments and company hires

    GSE scorecard released The FHFA has released the 2022 Scorecard for Fannie Mae, Freddie Mac and Co...

    Market moves    18 November 2021
  • Dutch mortgage alliance expanded

    Sector developments and company hires

    Dutch mortgage alliance expanded Achmea Bank is set to acquire a €500m mortgage portfolio...

    Market moves    16 November 2021
  • Optimisation impact

    GSA CMBS exposure gauged

    KBRA Credit Profile (KCP) has published a special report on US CMBS exposure to the General Services...

    News    15 November 2021
  • SCI Start the Week - 15 November

    A review of SCI's latest content

    FREE Webinar tomorrow - Post pandemic GSE CRT performance Register here to join a distinguished pan...

    News    15 November 2021
  • Sri Lanka eyes remittance securitisation

    Sector developments and company hires

    Sri Lanka eyes remittance securitisation The government of Sri Lanka (GOSL) is requesting competit...

    Market moves    12 November 2021
  • First LBR PCC investor signed

    Sector developments and company hires

    First LBR PCC investor signed Lloyds has announced that Ontario Teachers’ Pension Plan B...

    Market moves    10 November 2021
  • Multi-currency CLO closed

    Sector developments and company hires

    Multi-currency CLO closed Barclays has closed a multi-currency managed cashflow balance sheet CLO....

    Market moves    9 November 2021
  • US CLO equity outperforms

    Sector developments and company hires

    US CLO equity outperforms US CLO Equity cashflows average 15.2% across 1,038 BSL transactions that...

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

    A review of SCI's latest content

    Last week's news and analysis Back from the brink Lloyds resurrects UK SME SRTs Dual-...

    News    8 November 2021
  • Fed set to reduce asset purchases

    Sector developments and company hires

    Fed set to reduce asset purchases The New York Fed’s FOMC has increased the System Open...

    Market moves    5 November 2021
  • Servicers facing 'unprecedented' turnover

    Sector developments and company hires

    Servicers facing ‘unprecedented’ turnover US commercial mortgage servicers are...

    Market moves    4 November 2021
  • Holding firm

    European ABS/MBS market update

    Primary and secondary European ABS/MBS activity is expected to pick up this week after a few slow da...

    News    3 November 2021
  • Dual-currency deal

    Pan-European CMBS prepped

    Goldman Sachs is in the market with a dual-currency pan-European CMBS. Dubbed Frost CMBS 2021-1, the...

    News    3 November 2021
  • SLM EODs eyed

    Sector developments and company hires

    SLM EODs eyed Fitch has downgraded from single-B to double-C the outstanding class A4 and B notes...

    Market moves    2 November 2021