Structured Credit Investor SCI’s 5th Annual Capital Relief Trades Seminar 17 October 2019, London
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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.


  • Job swaps round-up - 20 October

    Australia Baker McKenzie has recruited Duncan McGrath as a partner in its corporate group in Sydne...

    Job Swaps    20 October 2017
  • Swap downgrades 'justified, necessary'

    Fitch downgraded Deutsche Bank's ratings last month, stating that the bank is no longer a suitable c...

    News Analysis    20 October 2017
  • SCI Start the Week - 16 October

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

    Pipeline Additions to the pipeline last week were heavily skewed towards ABS. There were 20 ABS nam...

    News    16 October 2017
  • Job swaps round-up - 13 October

    Acquisition Navient has entered into an agreement to acquire online student lender Earnest for US$...

    Job Swaps    13 October 2017
  • Treasury report supports securitisation

    The US Treasury has released a report recommending a number of regulatory changes that could make it...

    News    9 October 2017
  • C-PACE lender breaks new ground

    Greenworks Lending has privately placed the first rated securitisation of purely commercial PACE ass...

    News Analysis    9 October 2017
  • SCI Start the Week - 9 October

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

    Pipeline It was a quieter week for the pipeline, with activity noticeably down on the week before....

    News    9 October 2017
  • Job swaps round-up - 6 October

    North America Roy Guthrie is to succeed JP McNeill - who is transitioning into a long-te...

    Job Swaps    6 October 2017
  • SCI Start the Week - 2 October

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

    Pipeline It was a busy week of comings and goings for the pipeline. At the close of Friday, 11 new...

    News    2 October 2017
  • Trustee role rewritten by court?

    A ruling by the UK High Court could have significant implications for trustees, potentially redefini...

    News Analysis    29 September 2017
  • SCI Start the Week - 25 September

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

    Pipeline Additions to the pipeline last week were fairly broadly split. There were five ABS added,...

    News    25 September 2017
  • Toys R Us CMBS exposure gauged

    Toys R Us filed for chapter 11 bankruptcy protection this week. Several US CMBS loans are exposed to...

    News    21 September 2017
  • Merger to impact SFR volumes

    Starwood Waypoint Homes and Invitation Homes recently announced plans to merge, creating the largest...

    News Analysis    21 September 2017
  • SCI Start the Week - 18 September

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

    Pipeline There was greater variety to last week's pipeline additions, with significantly fewer ABS...

    News    18 September 2017
  • Job swaps round-up - 15 September

    EMEA Golden Tree Asset Management has opened an office in Sydney, hiring Russell Taylor as md to l...

    Job Swaps    15 September 2017
  • SCI Start the Week - 11 September

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

    Pipeline There were several additions to the pipeline last week, with ABS accounting for most of th...

    News    11 September 2017
  • Debut conduit CMBS launched

    Stonemont Financial Group has sponsored its inaugural CMBS, backed by a portfolio of office, industr...

    News    8 September 2017
  • Job swaps round-up - 8 September

    EMEA Tiger Risk UK has hired Michael Wade as a non-executive chair of TigerRisk Capital Markets an...

    Job Swaps    8 September 2017
  • CMBS split loans on the rise

    Pari-passu loans are increasing as a percentage of US conduit CMBS transactions. A recent Deutsche B...

    News    7 September 2017
  • Euro secondary returns

    The European securitisation secondary market is beginning to return to life after the summer. Augu...

    SCIWire    7 September 2017
  • SCI Start the Week - 4 September

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

    Pipeline There were relatively few pipeline additions ahead of the Labor Day weekend. The final cou...

    News    4 September 2017