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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.


  • RAIT sale

    Company developments and sector hires

    Aussie bank secures warehouse line Yellow Brick Road (YBR), an Australian non-bank lender, has rec...

    Market moves    2 September 2019
  • SCI Start the Week - 2 September

    A review of securitisation activity over the past seven days

    Market commentary A new Fitch study shows that there is a wide range in trustee reported market val...

    News    2 September 2019
  • Structured credit head steps down

    Company hires and sector developments

    BUMF 6 claim filed Business Mortgage Finance 6 has issued a claim against Roundstone Technologies...

    Market moves    29 August 2019
  • Multifamily delinquencies ticking up

    Growing student housing vacancies major factor

    Delinquencies among multifamily loans in CMBS have recently increased and are expected to grow furth...

    News    29 August 2019
  • Ceo replaced

    Sector developments and company hires

    New ceo appointed Oaktree Specialty Lending has announced that ceo and cio Edgar Lee has resigned...

    Market moves    27 August 2019
  • Broker charged over mispricing

    Sector developments and company hires

    Broker charged over mispricing The US SEC has charged New York-based broker-dealer AOC Securities...

    Market moves    23 August 2019
  • Counterintuitive results

    EBA consultation incentivises unfunded SRT format

    The EBA’s consultation on the determination of the weighted average maturity of a securiti...

    News Analysis    23 August 2019
  • Volcker rule amended

    Company hires and sector developments

    Aviation firm appoints treasurer Wings Capital Partners has hired Jakob Gallagher as vp, treasurer...

    Market moves    21 August 2019
  • SCI Start the Week - 19 August

    A review of securitisation activity over the past seven days

    Transaction of the week CFO backed by PE portfolio (SCI 13 August) Nassau Alternative Investments...

    News    19 August 2019
  • Whole biz downgrade announced

    Company developments and company hires

    Acquisitions Crescent Capital BDC is set to acquire Alcentra Capital Corp, a middle-market BDC. Th...

    Market moves    16 August 2019
  • NPL disposals inked

    Sector developments and company hires

    ABSF tender The Australian Office of Financial Management is inviting tender submissions for the p...

    Market moves    14 August 2019
  • Balancing act

    European CMBS learning from US CRE structures

    European CMBS are increasingly likely to continue following patterns set by their US counterparts an...

    News Analysis    14 August 2019
  • Tweaking tradition

    Dutch securitisation evolving across established sectors

    The Dutch securitisation market is seeing innovation and growth away from its traditional strong foc...

    News Analysis    13 August 2019
  • STS mirage

    "Still no level playing field" despite regulation

    Despite the high bar that issuers must clear to achieve the STS designation on securitisations, the...

    News Analysis    12 August 2019
  • SCI Start the Week - 12 August

    A review of securitisation activity over the past seven days

    SCI CRT awards Don't miss out on your chance to win: the submissions deadline for the inaugural SCI...

    News    12 August 2019
  • AM acquisition

    Sector developments and company hires

    Asset management acquisition Assured Guaranty US Holdings is set to acquire all of the outstanding...

    Market moves    9 August 2019
  • Alt credit co-head hired

    Company hires and sector developments

    Alt credit co-head nabbed Ares has hired Joel Holsinger to its credit group as c...

    Market moves    7 August 2019
  • CLO partner appointed

    Sector developments and company hires

    CLO firm partner promotion DFG Investment Advisers has promoted Timothy Milton to partner. Since j...

    Market moves    6 August 2019
  • SCI Start the Week - 5 August

    A review of securitisation activity over the past seven days

    Market commentary Portuguese RMBS outperformed other securitisation asset classes last week, booste...

    News    5 August 2019
  • CLO head hired

    Sector developments and company hires

    BUMF 6 injunctions granted Final injunctions have been granted against Greencoat Investments (GIL)...

    Market moves    2 August 2019
  • Affordable loan credit insurance risk transfer closed

    Sector developments and company hires

    Affordable CIRT closed Fannie Mae has executed a new credit insurance risk transfer (CIRT) transac...

    Market moves    31 July 2019