NOVEMBER What are CMBS? → CMBS are bonds sold through the capital markets, whose payments are backed by commercial mortgage loans → CMBS are a segment of the structured finance markets (other segments include RMBS, ABS, ABCP, CDO, etc.) → CMBS are typically rated by one or more credit rating agencies CMSA-EUROPE CONFERENCE 2008 LONDON, 4-5 NOVEMBER CMBS Securitisation Process Origination & Aggregation Origination and Primary Underwriting Functions Structuring & Rating Closing of Mortgages…
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