LOGIN
 

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.


  • Project finance risk transfer completed

    Santander has completed a synthetic risk transfer securitisation, transferring risk on a €...

    News    22 December 2017
  • Embracing a tactical approach

    David Moffitt, head of tactical investment opportunities at LibreMax Capital, answers SCI's question...

    The Structured Credit Interview    22 December 2017
  • Broad-based recovery underlined

    The global securitisation markets continued their broad-based recovery in 2017, with total issuance...

    News Analysis    20 December 2017
  • SCI Start the Week - 18 December

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

    Pipeline ABS additions to the pipeline finally dropped off last week, but RMBS, CMBS and CLOs conti...

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

    North America Angelo, Gordon has promoted Josh Baumgarten and Adam Schwartz to the roles...

    Job Swaps    15 December 2017
  • Debussy trigger breach eyed

    DBRS has downgraded its rating on the Debussy DTC class A notes to double-B (low) from triple-B (low...

    News    14 December 2017
  • Riding the refinancing wave

    The US CMBS market appears to have successfully addressed the challenges posed this year by the peak...

    News Analysis    13 December 2017
  • SCI Start the Week - 11 December

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

    Pipeline A mixed bag of securitisations remained in the pipeline by the end of last week. ABS and C...

    News    11 December 2017
  • Job swaps round-up - 8 December

    EMEA Clayton Euro Risk has announced that Tony Ward, ceo and president, and Simon Collingridge, cl...

    Job Swaps    8 December 2017
  • Record post-crisis CRE CLO prepped

    Blackstone Mortgage Trust (BXMT), a Blackstone-owned REIT, is marketing an inaugural US$1bn CRE CLO....

    News    6 December 2017
  • SCI Start the Week - 4 December

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

    Pipeline The pipeline burst back into life last week as 10 ABS deals were added. There were also th...

    News    4 December 2017
  • Job swaps round-up - 1 December

    EMEA CBRE has hired Paul Coates as executive director and head of debt and structured finance EMEA...

    Job Swaps    1 December 2017
  • Euro ABS/MBS stable

    The European ABS/MBS secondary market continues to remain stable. "It's been a sporadically active...

    SCIWire    30 November 2017
  • Fresh blow adds to CMBS retail woes

    The retail sector's well-publicised woes are affecting both primary and secondary CMBS. While the hi...

    News Analysis    29 November 2017
  • SCI Start the Week - 27 November

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

    PipelineAs might have been expected, there were very few additions to the pipeline last week. In fac...

    News    27 November 2017
  • Job swaps round-up - 24 November

    EMEA Alvin Wong has been hired as director at United Overseas Bank (UOB). Previously he was svp...

    Job Swaps    24 November 2017
  • UK CMBS prices tight

    Taurus 2017-2 UK, a rare single-loan UK CMBS (SCI 17 November), has priced. All offered tranches wer...

    News    24 November 2017
  • Mixed portfolio SRT printed

    NatWest has originated a capital relief trade dubbed Nightingale Securities 2017-1. Unusually, the &...

    News Analysis    21 November 2017
  • SCI Start the Week - 20 November

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

    Pipeline There were considerably fewer ABS added to the pipeline last week as additions became more...

    News    20 November 2017
  • Job swaps round-up - 17 November

    EMEA CSC has hired Jonathan Hanly as md to its Ireland office, Hinnerk Koch as md to its Luxembour...

    Job Swaps    17 November 2017
  • UK CMBS could signal turning point

    Bank of America Merrill Lynch is marketing a Blackstone-sponsored UK CMBS - the first European condu...

    News Analysis    17 November 2017