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.


  • Student accommodation CMBS prepped

    Brookfield Asset Management affiliate GL Europe RE Holdings is prepping a £215m single-tran...

    News    20 February 2017
  • SCI Start the Week - 20 February

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

    Pipeline There were eight ABS additions to the pipeline last week. These were joined by three RMBS...

    News    20 February 2017
  • Shifting dynamics spur CMBS prepays

    The €1bn Woba loan was successfully prepaid in full this week, confirming growing speculat...

    News Analysis    17 February 2017
  • Debut green agency CMBS priced

    Fannie Mae has priced its first green REMIC tranches as part of a multifamily DUS transaction. The U...

    News    16 February 2017
  • Rollover risk highlighted

    A Paramount Group Operating Partnership and Blackstone Property Partners JV is the sponsor of the la...

    News    14 February 2017
  • SCI Start the Week - 13 February

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

    Pipeline The recent trend of ABS and RMBS dominating pipeline additions continued last week. There...

    News    13 February 2017
  • Risk retention trends emerging

    Different retention strategies have emerged for US CLOs and CMBS leading up to and since the impleme...

    News Analysis    9 February 2017
  • CMBS loans exposed to EO bankruptcy

    Eastern Outfitters' chapter 11 bankruptcy filing could affect eight CMBS loans with a combined balan...

    News    9 February 2017
  • Euro secondary patchy

    Activity in the European securitisation secondary market continues to be patchy. Friday saw a rela...

    SCIWire    7 February 2017
  • SCI Start the Week - 6 February

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

    Please noteFrom today, we will be sending out stories as soon as they are published. They will appea...

    News    6 February 2017
  • Multifamily risk-sharing debuts

    Freddie Mac has priced its first offering of multifamily aggregation risk transfer certificates. The...

    News Round-up    3 February 2017
  • Origination platform acquired

    Walker & Dunlop has acquired Deerwood Real Estate Capital's loan origination platform, which...

    Job Swaps    2 February 2017
  • CMBS liquidation volume rockets

    US CMBS liquidation volume jumped in January to US$1.4bn, according to Trepp, crossing the US$1bn ma...

    News Round-up    2 February 2017
  • SFR operators change tack

    Single-family rental (SFR) transactions are benefitting from an improvement in sponsors' business mo...

    News Round-up    2 February 2017
  • Securitisation prospects polled

    Fiscal policy uncertainty is the top concern cited by respondents to Morgan Stanley's 1Q17 global se...

    News    2 February 2017
  • CRE market to 'remain favourable'

    CRE Finance Council's latest annual member survey suggests that the US commercial real estate market...

    News Round-up    2 February 2017
  • Land Securities tender completed

    Land Securities has confirmed it will accept for purchase an aggregate principal amount of CMBS note...

    News Round-up    2 February 2017
  • Surprise delinquency dip

    The Trepp US CMBS delinquency rate fell modestly in January to 5.18%, a drop of 5bp from December. T...

    News Round-up    1 February 2017
  • FNMA loan to pay down SFR deals

    Invitation Homes last week filed a preliminary prospectus with the US SEC in which it notes that it...

    News Round-up    31 January 2017
  • Global MBS fund launches

    PIMCO has launched a global MBS fund. GIS Mortgage Opportunities Fund is an absolute-return oriented...

    Job Swaps    31 January 2017
  • Academy adds structured products pair

    Academy Securities has made two additions to its structured products group, poaching Steve Kenney an...

    Job Swaps    31 January 2017