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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.


  • Market moves update

    Company hires and sector developments in structured finance

    Acquisitions Lennar Corporation has agreed to sell its Rialto Investment and Asset Management busi...

    Market moves    31 October 2018
  • Retail rifts

    UK CMBS impact limited despite store closures

    Debenhams is the most recent UK retailer to announce a raft of store closures, further signalling th...

    News Analysis    30 October 2018
  • Health check

    Sears bankruptcy exposure gauged

    Morningstar Credit Ratings has identified 28 CMBS loans, representing an allocated property balance...

    News    30 October 2018
  • SCI Start the Week - 29 October

    A review of securitisation activity over the past seven days

    Market commentary The US secondary CLO market saw heightened activity last week, with bid-lists cir...

    News    29 October 2018
  • Market moves update

    Sector developments and company hires in structured finance

    Moody's has downgraded the ratings of  123 tranches, placed on review for upgrade t...

    Market moves    26 October 2018
  • Heightened holding

    European ABS market update

    Invesco is preparing a new €410m European CLO deal, along with GSO Capital Partners, which...

    Market Reports    26 October 2018
  • Market moves update

    Sector developments and company hires in structured finance

    China Fitch Ratings has launched Fitch Bohua Credit Ratings to serve China's onshore bond...

    Market moves    25 October 2018
  • Bridge-loan lifeline

    Greystone closes CRE CLO milestone

    Greystone Bridge Lending Fund last month completed its second CRE CLO (see SCI’s primary i...

    News Analysis    24 October 2018
  • Hitting the mark

    Pan-European logistics CMBS prepped

    Blackstone is in the market with a €292.79m pan-European CMBS secured by 89 logistics and i...

    News    23 October 2018
  • CLOs in demand

    Quarterly SCI data update

    Analysis of SCI's databases underlines the significant demand for CLO paper seen in 3Q18, in...

    News Analysis    23 October 2018
  • Market moves update

    Company hires and sector developments in structured finance

    [b]Acquisition[/b] [b]Miller[/b] is to acquire the independent London market (re)insurance broker[...

    Market moves    23 October 2018
  • SCI Start the Week - 22 October

    A review of securitisation activity over the past seven days

    Market commentary European primary ABS activity continued to be robust last week. The BPCE Home Loa...

    News    22 October 2018
  • Latest SCI podcast now live

    SCI podcast episode two has been released

    SCI’s latest podcast is now live. This month the team discuss the African Development Bank...

    News    18 October 2018
  • Second wave

    Synthetic CRE transactions launched

    Santander and NatWest have completed two commercial real estate risk transfer transactions and the m...

    News Analysis    15 October 2018
  • Market moves update

    OFS equity investment OFS Credit Company has disclosed that it has invested in the equity tranches...

    Market moves    15 October 2018
  • SCI Start the Week - 15 October

    A review of securitisation activity over the past seven days

    Market commentary Robust demand was seen in both the European and US CLO markets last week (SCI 9 O...

    News    15 October 2018
  • Market moves - 12 October

    Company hires and sector developments in structured finance

    Cliff edge concerns ISDA has published a paper highlighting widespread concerns in Europe that the...

    Market moves    12 October 2018
  • SCI Start the Week - 8 October

    A review of securitisation activity over the past seven days

    Market commentary The European ABS primary market saw a lull in activity last week, which left some...

    News    8 October 2018
  • Market moves - 5 October

    New hires and company developments in the structured finance sector

    Europe Apollo Global Management has named Brigitte Posch md, head of emerging markets in London. S...

    Market moves    5 October 2018
  • SCI Start the Week - 1 October

    A look at the major activity in structured finance over the past seven days

    Conference SCI’s 4th Annual Capital Relief Trades Seminar is taking place on 16 October...

    News    1 October 2018
  • Market moves - 28 September

    The latest hires and company developments in the structured finance market

    Canadian pension partnership Canada Pension Plan Investment Board (CPPIB) announced today...

    Market moves    28 September 2018