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.

  • 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
  • Bio-science CMBS prepped

    Blackstone is in the market with a US$330m CMBS backed by a two-year floating rate commercial mortga...

    News    1 June 2017
  • Euro secondary sporadic

    The European securitisation secondary market continues to exhibit the pattern of recent weeks with s...

    SCIWire    1 June 2017
  • More store closures add to retail woes

    Retail woes continue to trouble the CMBS sector, with Rue21 filing for bankruptcy last week and anno...

    News    25 May 2017
  • Investors overweight RMBS

    Investors are moving out of consumer ABS and into US non-agency RMBS, agency RMBS and cash, accordin...

    News    23 May 2017
  • Urgent-care centres could help fill retail vacancies

    Non-traditional tenants such as medical and urgent-care centres could help fill vacancies in large r...

    News    23 May 2017
  • Global interest in Euro SF surges

    The number of investors in European securitisations is ramping up and transactions are increasingly...

    News    22 May 2017
  • SCI Start the Week - 22 May

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

    Pipeline There were 11 ABS deals added to the pipeline last week. These were joined by an ILS, six...

    News    22 May 2017
  • Job swaps round-up - 19 May

    CDO manager transfers Dock Street Capital Management has replaced Vertical Capital as portfolio ad...

    Job Swaps    19 May 2017
  • 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