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


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.

  • Regulatory proposal for SPVs 'credit negative'

    Proposed European regulatory changes to classify SPVs as financial counterparties have created signi...

    News    19 May 2017
  • SCI Start the Week - 15 May

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

    Pipeline There was a bit more variety to the pipeline's additions last week, although ABS once agai...

    News    15 May 2017
  • Job swaps round-up - 12 May

    Amicus briefs The LSTA has joined The Clearing House and the American Bankers Association to file...

    Job Swaps    12 May 2017
  • Pari passu exposure highlighted

    DBRS has updated its Pari Passu Index for loans in US CMBS transactions issued after 2010. The resul...

    News    9 May 2017
  • Euro ABS/MBS quiet

    Despite the resolution of the French presidential election the European ABS/MBS secondary market rem...

    SCIWire    9 May 2017
  • SCI Start the Week - 8 May

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

    Pipeline ABS names dominated the list of pipeline additions last week. There were eight new ABS add...

    News    8 May 2017
  • Lipstick Building lease CMBS prepped

    Credit Suisse is in the market with a single-asset/single-borrower CMBS secured by two of three land...

    News    5 May 2017
  • GSE CRT value explored

    High-LTV GSE credit risk transfer (CRT) deals differ from low-LTV ones in more ways than just LTV ra...

    News    28 April 2017
  • SFR composition trends analysed

    Fewer distressed buying opportunities for institutional investors in single-family rental houses has...

    News    28 April 2017
  • Mall refi prospects mixed

    While many CMBS loans on regional malls are expected to struggle to refinance at maturity, Morningst...

    News    27 April 2017
  • Euro secondary stifled

    The hoped for boom in the European securitisation secondary market this week is be...

    SCIWire    27 April 2017
  • Special servicing books creep down

    The three largest legacy special servicers - C-III Asset Management, CWCapital Asset Manag...

    News    26 April 2017
  • Bill to repeal Dodd-Frank scrutinised

    Hearings are scheduled for today on a draft bill published last week by House Republicans which woul...

    News    26 April 2017
  • Euro secondary boosted

    The European securitisation secondary market has been boosted by the first round result in the Frenc...

    SCIWire    25 April 2017
  • European hot spots highlighted

    CLOs and RMBS are seen as the main growth areas in the European securitisation market at present. Dr...

    Talking Point    24 April 2017
  • SCI Start the Week - 24 April

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

    Pipeline Additions to the pipeline were focused on ABS and RMBS last week, with the former dominati...

    News    24 April 2017
  • Job swaps round-up - 21 April

    North America Morningstar has hired Charles Citro as md for CMBS ratings and analytics, based in N...

    Job Swaps    21 April 2017
  • Euro ABS/MBS picks up

    Activity in the European ABS/MBS secondary market is picking up after the Easter break. Yesterday...

    SCIWire    20 April 2017
  • Special servicing shift underway?

    A shift in the US CMBS special servicing landscape is emerging, according to Fitch's year-end review...

    News    19 April 2017
  • 'Substantial' loss forecast after methane claim

    The US$77.2m City View Center loan - securitised in MSC 2007-IQ14 - has received...

    News    19 April 2017
  • Floating-rate ABS lacks support for growth

    Lack of demand will likely limit the growth of floating-rate ABS and CMBS in the US, despite rising...

    News Analysis    13 April 2017