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.

• Risk transfer round-up - 18 April

  CRT sector developments and deal news

  Credit Suisse is believed to be readying a corporate capital relief trade from its Elvetia programme...

  News    18 April 2019

• BMF administration order filed

  Sector developments and company hires

  BMF 6 tender An application for an administration order in respect of Business Mortgage Finance 6 w...

  Market moves    16 April 2019

• Firm bulks out CRE capability

  Sector developments and company hires

  Board directors appointed ISDA has appointed three new board directors and re-elected ten others....

  Market moves    11 April 2019

• BWIC boom

  Quarterly SCI data update

  The first quarter of a year is usually quieter than the previous quarter and, for the most part, 1Q1...

  News Analysis    11 April 2019

• European bank in major restructure

  Company hires and sector developments

  COO hired Trepp has appointed Luis Amador as coo, reporting to ceo, Annemarie DiCola. Amador was r...

  Market moves    9 April 2019

• On the up?

  CRE CLO market growth set to continue

  After a buoyant CRE CDO market all but vanished following the financial crisis, it has only recently...

  News Analysis    8 April 2019

• GSE reforms proposed

  Sector developments and company hires

  Debt service reserve guarantee provided Assured Guaranty (Europe) plc (AGE) has issued a &poun...

  Market moves    1 April 2019

• Irish BTL RMBS launched

  Company hires and sector developments

  Irish BTL RMBS launched Bank of Ireland has mandated a new Irish buy-to-let RMBS deal. Du...

  Market moves    29 March 2019

• 'Constant demand'

  UK firms hiring across range of SF roles

  Hiring in the UK structured finance space has been buoyant in the last 12 months, with recruitment a...

  News Analysis    28 March 2019

• Picking up pace

  European ABS market update

  European ABS secondary market activity has been relatively subdued so far this week. However, the pr...

  Market Reports    28 March 2019

• Noteholders exposed?

  Concerns raised over recent French CMBS

  Bank of America Merrill Lynch (BAML) is marketing a €249.6m European CMBS. Dubbed Taurus 20...

  News    27 March 2019

• CRT credit event

  Company hires and sector developments

  CRT credit event HSBC’s Metrix series 2015-1 CLN has suffered another credit event. The...

  Market moves    27 March 2019

• Purchase option to be exercised

  Sector developments and company hires

  EMEA Capzanine has appointed Renaud Tourmente as head of business development, effective from 6 M...

  Market moves    22 March 2019

• Majority stake acquired

  Sector developments and company hires

  Balance sheet normalisation The US Fed has confirmed it intends to continue to allow its holdings o...

  Market moves    21 March 2019

• Double Dutch

  Office and retail exposure on offer

  Goldman Sachs is in the market with a Dutch CMBS secured by 17 predominantly office and retail asset...

  News    20 March 2019

• Private credit firm launched

  Sector developments and company hires

  Firm launch AGL Credit Management has launched, with Peter Gleysteen serving as ceo and cio, and T...

  Market moves    18 March 2019

• Benchmark Sonia deal prepped

  Unique UK RMBS transaction adds momentum to IBOR transition

  The first third party hedged UK RMBS with Sonia-linked notes has been prepped by Principali...

  News    15 March 2019

• Bright spot

  European ABS market update

  De Lage Landen’s newly mandated UK equipment lease ABS represents a bright spot in an othe...

  Market Reports    12 March 2019

• R-PACE rulemaking proposals outlined

  Sector developments and company hires

  Credit line secured Foundation Home Loans has entered into a new £350m warehouse credit...

  Market moves    11 March 2019

• Inaugural Italian CRE deal in the works

  Italian assets 'well-suited' to securitisation

  A Maltese first time issuer, Polymath & Boffin, is preparing a €166m securitisation...

  News Analysis    11 March 2019

• Merger opposed

  Company hires and sector developments

  Astra case development Judge Jennifer Frisch of the Minnesota District Court, Second Judicial Dist...

  Market moves    8 March 2019