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.

• 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

• 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

• 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

• 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

• 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

• 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

• Mortgage partnership announced

  Sector hires and company developments

  Euro credit team bulks up CIFC has hired Anders Samuelsen from Muzinich as it continues to build i...

  Market moves    25 November 2019

• SCI Start the week - 25 November

  A review of securitisation activity over the past seven days

  Transaction of the week Hercules tapped Alpha Bank is set to securitise a €12bn mixed p...

  News    25 November 2019

• FRTB consultation launched

  Sector developments and company hires

  APAC poll highlights key risks More than 80% of market participants polled by Moody’s at...

  Market moves    22 November 2019

• Ceo retires

  Sector developments and company hires

  Capital markets head appointed 23 Capital has hired Sreesha Vaman as md, head of capital markets....

  Market moves    21 November 2019

• Legal firm beefs up

  Sector developments and company hires

  GSE capital rule eyed The FHFA plans to re-propose the entire regulation on capital requirements f...

  Market moves    20 November 2019

• Structured credit head announced

  Sector developments and company hires

  Acquisition finalised Artex has completed the acquisition of Horseshoe Insurance Services Holdings...

  Market moves    18 November 2019

• SME programmes launched

  EIF supports two inaugural funding initiatives

  The EIF has for the first time provided funding support for a German online SME lending pla...

  News    18 November 2019

• SCI Start the Week - 18 November

  A review of securitisation activity over the past seven days

  Transaction of the week UniCredit has completed what is believed to be the largest European ABS tra...

  News    18 November 2019

• Morgan loan prepays

  Sector developments and company hires

  Coupon swaps planned The New York Fed's open market trading desk plans to conduct four sma...

  Market moves    15 November 2019

• ESG initiative launched

  Sector developments and company hires

  Alt heads named test Allianz Global Investors has unveiled leadership changes that will take effec...

  Market moves    13 November 2019

• SCI Start the Week - 11 November

  A review of securitisation activity over the past seven days

  Stories of the week Pursuing illiquidity premia Corbin Capital answers SCI's questions Risk t...

  News    11 November 2019

• MPL ABS breaches liquidity covenant

  Sector developments and company hires

  EMEA BTIG has established a fixed income credit division in London to service clients across EMEA...

  Market moves    8 November 2019

• Pursuing illiquidity premia

  Corbin Capital ceo Tracy McHale Stuart and cio Craig Bergstrom answer SCI's questions

  Q: How and when did Corbin Capital become involved in the securitisation market? TMS: We&rsqu...

  The Structured Credit Interview    6 November 2019