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.


  • 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
  • Job swaps round-up - 1 September

    EMEA Credit Suisse has hired Constantin Hulst as a CLO structurer to its European CLO origination...

    Job Swaps    1 September 2017
  • Direct issuance achieves CMBS firsts

    The recent US single-asset/single-borrower CMBS from the Shidler Group - HMH Trust 2017-NSS (see SCI...

    News Analysis    1 September 2017
  • Hurricane Harvey impact weighed

    While the picture is not yet clear in terms of the total damage inflicted by Hurricane Harvey, it lo...

    News    1 September 2017
  • Job swaps round-up - 25 August

    EMEA Fitch has appointed Marjan van der Weijden as global group head of structured finance and cov...

    Job Swaps    25 August 2017
  • Debut CRE CLO closed

    Hunt Mortgage Group has closed its inaugural US$349.3m CRE CLO, dubbed Hunt CRE 2017-FL1. The transa...

    News    24 August 2017
  • Large loan volatility examined

    Larger properties have shown higher default rates than smaller properties in US CMBS over the last d...

    News    23 August 2017
  • Dutch deal breaks BTL ground

    RNHB last month priced a Dutch buy-to-let (BTL) RMBS dubbed Dutch Property Finance 2017-1 (see SCI's...

    News Analysis    21 August 2017
  • SCI Start the Week - 21 August

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

    Pipeline Only a handful of transactions remained in the pipeline at the end of last week. The major...

    News    21 August 2017
  • Job swaps round-up - 18 August

    North America Redwood Trust has appointed Dashiell Robinson to the newly formed position of evp, o...

    Job Swaps    18 August 2017
  • 'Cross-over' dispute highlighted

    The trustee for the MLCFC 2007-8 CMBS has withheld US$143.7m in principal, according to August remit...

    News    17 August 2017
  • SCI Start the Week - 14 August

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

    Pipeline Additions to the pipeline last week were balanced between ABS and CMBS. There were five of...

    News    14 August 2017
  • Job swaps round-up - 11 August

    North America John DiRocco has joined CIFC as coo, overseeing non-investment functions, as well as...

    Job Swaps    11 August 2017
  • Innovative CRE CLO marketing

    Bancorp Bank is marketing a US$314.4m static commercial real estate CLO, backed by 24 floating-rate...

    News    11 August 2017
  • Green agency CMBS 'first' prices

    Fannie Mae has priced its first GeMS REMIC backed exclusively by green MBS collateral. The issuance...

    News    10 August 2017
  • SCI Start the Week - 7 August

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

    Pipeline ABS deals accounted for more than half of last week's pipeline additions. There were seven...

    News    7 August 2017
  • Peripheral ABS playing catch-up

    Structured finance issuance in the European core has held up well over the summer, with spreads cont...

    News Analysis    4 August 2017
  • Job swaps round-up - 4 August

    North America Hunton & Williams has promoted a pair of litigation lawyers with securitisat...

    Job Swaps    4 August 2017
  • SCI Start the Week - 31 July

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

    Pipeline The rate of pipeline additions stayed consistent last week. There were six new ABS, five R...

    News    31 July 2017
  • Job swaps round-up - 28 July

    North America Ashurst is cutting its CLO practice because it sees it as "less relevant" to its glo...

    Job Swaps    28 July 2017
  • Euro secondary staves off summer

    The European securitisation secondary market has not yet quite shutdown for summer with a pick-up in...

    SCIWire    27 July 2017