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.

  • CMBS green bond debuts

    Natixis has issued the first-ever 'green' tranche in a CMBS, in collaboration with Ivanhoe Cambridge...

    News    6 July 2017
  • Early redemption for Annington CMBS

    The Annington Group is set to refinance its capital structure, after investors passed an extraordina...

    News    4 July 2017
  • Further Sears closures threatens CMBS

    Sears is set to terminate its master lease at 20 unprofitable locations owned by Seritage Growth Pro...

    News    3 July 2017
  • SCI Start the Week - 3 July

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

    PipelineOnly a handful of transactions remained in the pipeline last week. Of these, RMBS accounted...

    News    3 July 2017
  • Job swaps round-up - 30 June

    North America Alexander Popov has joined Carlyle Group as md to lead the credit opportunities busi...

    Job Swaps    30 June 2017
  • GSE SFR deal 'first of its kind'

    The Fannie Mae Grantor Trust 2017-T1 single-family rental securitisation from April was the first tr...

    News    29 June 2017
  • Euro secondary solid

    The European securitisation secondary market remains solid despite distractions from primary and mon...

    SCIWire    29 June 2017
  • Houston lodging loans plagued by oversupply

    Of all US CMBS loans secured by lodging properties, 10% are exposed to an elevated level of credit r...

    News    28 June 2017
  • 'Novel' single-borrower CMBS prepped

    Blackstone is marketing an unusual US$536m single-borrower CMBS. Dubbed IMT Trust 2017-APTS, the tra...

    News    28 June 2017
  • Euro secondary steps up

    Activity has started to step up across the European securitisation secondary market following an ext...

    SCIWire    27 June 2017
  • SCI Start the Week - 26 June

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

    PipelineA mix of new deals - both in terms of collateral type and jurisdiction -...

    News    26 June 2017
  • SCI Start the Week - 19 June

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

    Pipeline A rush of ABS deals joined the pipeline last week, picking up from the limited activity of...

    News    19 June 2017
  • Freddie launches tax-exempt loan series

    Freddie Mac has launched a new series of credit risk transfer securities backed by tax-exempt loans...

    News    16 June 2017
  • Treasury reports on regulatory impact

    The US Treasury has issued a first report in a series regarding regulation of the financial system i...

    News    15 June 2017
  • Euro ABS/MBS unchanged

    Trading patterns in the European ABS/MBS secondary market remain unchanged. The lack of primary su...

    SCIWire    15 June 2017
  • Prosecutors probe valuations process

    US prosecutors, after years spent studying the sell-side, appear to be turning their attentions to t...

    News Analysis    14 June 2017
  • Euro secondary flickers

    The European securitisation secondary market is slowly flickering back to life. Overall, all ABS/M...

    SCIWire    13 June 2017
  • SCI Start the Week - 12 June

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

    Pipeline It was another week of limited pipeline activity, although several CMBS have been announce...

    News    12 June 2017
  • CHOICE Act passes in House

    The US House of Representatives has passed the Financial CHOICE Act. The legislation aims to replace...

    News    9 June 2017
  • European market growth predicted

    European securitisation market participants expect the number of investors to grow and participation...

    News    6 June 2017
  • SCI Start the Week - 5 June

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

    Pipeline With many market participants decamping to Barcelona this week for the industry conference...

    News    5 June 2017