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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.


  • SCI Start the Week – 7 October

    A review of securitisation activity over the past seven days

    Transaction of the week RMF is marketing its first private RMBS backed by jumbo proprietary reverse...

    News    7 October 2019
  • ILS acquisition announced

    Company hires and sector developments

    Acquisition announced Artex Risk Solutions has announced that it has reached agreement to acquire...

    Market moves    3 October 2019
  • CLO firm co-founder to retire

    Sector developments and company hires

    30-year CIRT debuts Fannie Mae has completed its sixth Credit Insurance Risk Transfer transaction...

    Market moves    2 October 2019
  • B-piece service bulks out

    Sector developments and company hires

    B-piece service bulks out Greystone, has added Paul Smyth, Cary Williams, and&am...

    Market moves    30 September 2019
  • SCI Start the Week - 30 September

    A review of securitisation activity over the past seven days

    Transaction of the week FirstKey Mortgage is marketing the first securitisation backed by manufactu...

    News    30 September 2019
  • US CLO firm leadership shake-up

    Sector developments and company hires

    CLO firm makes md appointment MidOcean Partners has hired Natalya Michaels as md, focusing on mark...

    Market moves    25 September 2019
  • Ceo appointed

    Sector developments and company hires

    Ceo appointed CAC Specialty has appointed Michael Rice as ceo, bringing more than 25 years of expe...

    Market moves    24 September 2019
  • Master trust margins amended

    Sector developments and company hires

    Holmes Master Trust margins amended Moody’s comments that the proposed amendments to the...

    Market moves    23 September 2019
  • SCI Start the Week - 23 September

    A review of securitisation activity over the past seven days

    Transaction of the week Deutsche Bank is marketing a £114m UK CMBS, dubbed Deco 2019-RAM....

    News    23 September 2019
  • Law firm nabs SF vet

    Sector developments and company hires

    Law firm beefs up Orrick has hired structured finance lawyer Richard Hanson as a partner based in...

    Market moves    20 September 2019
  • CMBS NOI slowing

    Sector developments and company hires

    Aircraft ratings review Moody’s has published a new overview which examines ABS issued i...

    Market moves    19 September 2019
  • Broader base

    New investors come to STS, but for what reason?

    A growing number of new investors, including bank treasuries, are participating in European...

    News    18 September 2019
  • UK CMBS prepped

    Retail-backed CMBS markets despite major tenant concerns

    Deutsche Bank is marketing a £114m UK CMBS, dubbed Deco 2019-RAM. The transaction mainly c...

    News    16 September 2019
  • CLO downgrade announced

    Sector developments and company hires

    CDS hire announced Axiom Alternative Investments has appointed Bedis Gharbi as senior portfolio ma...

    Market moves    16 September 2019
  • SCI Start the week - 16 September

    A review of securitisation activity over the past seven days

    Transaction of the week Alior Leasing has launched a 12 month revolving cash securitisation of aut...

    News    16 September 2019
  • ECB stimulus announced

    Sector developments and company hires

    ECB stimulus package outlined The ECB has announced that it is cutting the interest rate on the de...

    Market moves    13 September 2019
  • Competitive boost

    QMP expiration levels playing field

    The US Treasury’s plan to reform the country’s housing system is expected to lev...

    News    13 September 2019
  • CLO firm incorporates ESG approach

    Company hires and sector developments

    Cayman CLO first Maples Group has supported the first ever US CLO to issue out of the Cayman Islan...

    Market moves    11 September 2019
  • Country md announced

    Company hires and sector developments

    Country md announced Jervis Smith has been appointed country md of Vistra Luxembourg, responsible...

    Market moves    10 September 2019
  • Maltese benefits

    Jurisdiction especially suited to innovative transport ABS

    Malta provides a legal and tax framework that provides the same benefits for the establishment of SP...

    News Analysis    10 September 2019
  • CLO firm bulks up

    Company hires and sector developments

    CLO firm bulks up Adrienne Dale has joined MidOcean Credit Partners a portfolio manager for its CL...

    Market moves    9 September 2019