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.

• Iberian RMBS investment disclosed

  Sector developments and company hires

  Iberian RMBS investment disclosed The EIB has disclosed that it invested €50m in UCI&r...

  Market moves    12 May 2021

• STS BTL RMBS prepped

  Sector developments and company hires

  STS BTL RMBS prepped Domivest is in the market with the first-ever STS buy-to-let RMBS. Dubbed Domi...

  Market moves    11 May 2021

• Hertz reorganisation proposals weighed

  Sector developments and company hires

  Hertz reorganisation proposals weighed Hertz has determined that a revised proposal to provide eq...

  Market moves    10 May 2021

• CRE CLO surge

  Record issuance expected

  The US CRE CLO market is seeing a surge in new issuance, albeit from the sector’s relative...

  News Analysis    10 May 2021

• SCI Start the Week - 10 May

  A review of securitisation activity over the past seven days

  Last week's stories Niche exposure CFE Finance answers SCI's questions NPL rebound? Secured...

  News    10 May 2021

• Green railcar ABS debuts

  Sector developments and company hires

  Green railcar ABS debuts Trinity Industries has priced its inaugural green railcar ABS, following t...

  Market moves    7 May 2021

• Greek investment partnership inked

  Sector developments and company hires

  Greek investment partnership inked Mount Street Group has formed a strategic partnership in Greec...

  Market moves    29 April 2021

• Irish RPL refi prepped

  Sector developments and company hires

  Irish RPL refi prepped A refinancing of two Irish reperforming RMBS - European Residential Loan Sec...

  Market moves    28 April 2021

• APAC ESG expansion eyed

  Sector developments and company hires

  APAC ESG expansion eyed Moody’s is set to expand its Singapore office with the aim of s...

  Market moves    27 April 2021

• Downgrades for 'lower quality' mall CMBS

  Sector developments and company hires

  Downgrades for ‘lower quality’ mall CMBS Moody's has downgraded 119 pri...

  Market moves    26 April 2021

• SCI Start the Week - 26 April

  A review of securitisation activity over the past seven days

  Last week's stories Bottoming out EU NPL ratios improve Climate concerns The nexus between i...

  News    26 April 2021

• Forbearance SPV availability ends

  Sector developments and company hires

  Forbearance SPV availability ends The Australian Office of Financial Management has released an upd...

  Market moves    21 April 2021

• Blockchain mortgage 'ecosystem' prepped

  Sector developments and company hires

  Blockchain mortgage ‘ecosystem’ prepped Liquid Mortgage has raised capital fr...

  Market moves    20 April 2021

• SCI Start the Week - 19 April

  A review of securitisation activity over the past seven days

  Last week's stories Income opportunities Angel Oak Capital Advisors, answers SCI's questions ...

  News    19 April 2021

• Shifting trends

  Differing ESG impacts on credit quality considered

  ESG considerations pose higher credit risk to certain securitisation asset classes and certain globa...

  News    15 April 2021

• Income opportunities

  Clayton Triick, CFA, senior portfolio manager at Angel Oak Capital Advisors, answers SCI's questions

  Q: How and when did you become involved in the securitisation market? A: Angel Oak Capital Advisors...

  The Structured Credit Interview    14 April 2021

• Green auto feasibility assessments underway

  Sector developments and company hires

  Green auto feasibility assessments underway CO2 emissions data reporting by auto loan lenders is...

  Market moves    13 April 2021

• SCI Start the Week - 12 April

  A review of securitisation activity over the past seven days

  Last week's stories Collection boost? NPL sales increase pending amid uncertain timing Inclus...

  News    12 April 2021

• Non-resident Aussie RMBS debuts

  Sector developments and company hires

  Non-resident Aussie RMBS debuts Brighten Home Loan is readying its inaugural RMBS - the A$250m Sola...

  Market moves    8 April 2021

• GACS NPL ABS performance eyed

  Sector developments and company hires

  GACS NPL ABS performance eyed A sum of eight new GACS non-performing loan securitisations priced in...

  Market moves    7 April 2021

• Pockets of value

  Patient investors can find bargains in depressed CMBS sector

  No area of the US securitization market has been as severely punished by the events of the last year...

  News Analysis    5 April 2021