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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.


  • 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
  • Closer look

    US CRE CLOs are booming, but caution is advised

    A landmark US CRE CLO is currently marketing and grabbing investors’ attention. Away from...

    News Analysis    29 July 2019
  • SCI Start the Week - 29 July

    A review of securitisation activity over the past seven days

    Transaction of the week Unusual securitisation backed by music rights collateral (SCI 23 July) SE...

    News    29 July 2019
  • Mortgage firm completes residuals sale

    Company hires and sector developments

    Residual sale Charter Mortgages is set to sell its residual economic interest in the Precise Mortg...

    Market moves    26 July 2019
  • Unique approach

    Underwriting flex space in CMBS examined

    Coworking company exposures in US CMBS are expected to increase as the buildings they occupy are ref...

    News Analysis    26 July 2019
  • Italian renaissance?

    Spike in new issuance supported for now

    The uptick in Italian ABS/MBS primary issuance in the past month or so gives the impression of a lon...

    News Analysis    24 July 2019
  • Esoteric ABS head announced

    Sector developments and company hires

    Esoteric ABS head named MUFG has hired Keith Allman as md and head of esoteric ABS, effective Augu...

    Market moves    23 July 2019
  • ABS head named

    Company hires and sector developments

    Euro ABS head appointed Santander has hired Francesco Dissera as head of continential Europe, secu...

    Market moves    22 July 2019
  • Co-ceo named

    Sector developments and company hires

    Co-ceo named Värde Partners has named Ilfryn Carstairs as co-ceo, alongside co-founder Ge...

    Market moves    19 July 2019
  • Additional resources for disclosure published

    Sector developments and company hires

    Agri-investing appointment Arable Capital Partners has appointed Matt Reus a vp in the Bellevue, W...

    Market moves    18 July 2019
  • Bank fined over MBS trading failures

    Company hires and sector developments

    Agency heads announced Morningstar Credit Ratings (MCR) has named Erin Stafford as head of the com...

    Market moves    17 July 2019
  • Fund founder guilty of fraud

    Company hires and sector developments

    African solar plan approved The African Development Bank Group has approved an innovative multinat...

    Market moves    15 July 2019
  • Green investment partnership launched

    Company hires and sector developments

    Green investment Amundi and the EIB have signed a partnership to launch the Green Credit Continuum...

    News    12 July 2019
  • Investment chief appointed

    Sector developments and company hires

    Business Mortgage Finance 6 update Business Mortgage Finance 6, the issuer, has informed noteholde...

    Market moves    10 July 2019