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.

• Making hay

  Private-label multifamily origination moves aside for agency CMBS

  US agency CMBS volume has risen at an average clip of 50% per year post-crisis, hitting a record US$...

  News Analysis    13 February 2019

• US CMBS divergence eyed

  CMBS issuance 'will be hindered' by worsening borrower terms

  US CMBS is under scrutiny as figures have emerged showing weaker performance in post-crisis transact...

  News Analysis    5 February 2019

• SCI Start the week - 4 February

  A review of securitisation activity over the past seven days

  Transaction of the week Bank of Montreal has printed a US and Canadian leveraged loan capital reli...

  News    4 February 2019

• Staying strong

  MetLife Investment Management speaks to SCI about the year ahead

  Q: What’s your general outlook for the structured finance sector in 2019? William Morett...

  The Structured Credit Interview    1 February 2019

• Euro ABS deals mooted

  Company hires and sector developments

  European RMBS transactions mandated A pair of European RMBS transactions have been mandated, marki...

  Market moves    31 January 2019

• CLO UCITS launched

  Company hires and sector developments

  CDS publication launched Jochen Felsenheimer, md at XAIA Investment, Wolfgang Klopfer, chairman of...

  Market moves    30 January 2019

• CMBS tender launched

  Company hires and sector developments

  BUMF tender Greencoat Investments has launched a tender offer for the Business Mortgage Finance 4,...

  Market moves    28 January 2019

• New ILS unit launched

  Sector developments and company hires

  ABS outfit launched US Bancorp has launched a new ABS lending business, providing non-recourse com...

  Market moves    25 January 2019

• CLOs retain top ranking

  Quarterly SCI data update

  CLOs remained the top asset class in terms of deal count for European and US new issuance in 4Q18, a...

  News Analysis    24 January 2019

• Alt investor boosts global presence

  Sector developments and company hires

  Europe Palamon has hired Aqib Kadar as director of tax and structured finance. Kadar was previousl...

  Market moves    24 January 2019

• Two depart at ILS firm

  Sector developments and company hires

  Europe M&G Investments has appointed Vincent Charles-Gervais as portfolio manager within i...

  Market moves    22 January 2019

• Latest SCI podcast available

  SCI podcast episode four is now live

  SCI’s latest podcast is now live. This month the team round up asset class performance fro...

  News    21 January 2019

• Innovative ILS transaction launched

  Sector developments and company hires

  Auto ILS closed AlphaCat Managers has securitised a non-standard passenger auto insurance portfoli...

  Market moves    18 January 2019

• Risk retention for Japan?

  Sector developments and company hires

  ILS Sarah Demerling has joined Walkers Bermuda as a partner in the firm's corporate, finan...

  Market moves    16 January 2019

• Agency launches new Euro office

  Company hires and sector developments

  Europe Alantra has hired James Fadel as md. He was previously head of structured finance advisory...

  Market moves    14 January 2019

• SCI Start the Week - 14 January

  A review of securitisation activity over the past seven days

  Transaction of the week BBVA has completed an innovative transaction that synchronises credit event...

  News    14 January 2019

• Solar equity ABS launched

  Sector developments and company hires

  Acquisitions American Mortgage Consultants (AMC) has acquired Meridian Asset Services, (Meridian),...

  Market moves    11 January 2019

• US firms see flurry of hires

  Sector developments and company hires

  US Bay Crest Partners has bolstered its fixed income business with a trio of senior hires: Tadeusz...

  Market moves    10 January 2019

• UK tax partner pinched

  Sector developments and company hires

  UK Hunton Andrews Kurth has recruited David Klass as a partner in its London office. Klass brings...

  Market moves    8 January 2019

• Freddie Mac launches debut reinsurance deal

  Company hires and sector developments

  Acquisitions doBank has acquired 85% of NPL servicer Altamira Asset Management from entities affil...

  Market moves    7 January 2019

• SCI Start the Week - 7 January

  A review of securitisation activity over the past seven days

  Transaction of the week Santander has launched an unusual synthetic securitisation of auto loans,...

  News    7 January 2019