Commercial Mortgage-Backed Security

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Commercial Mortgage-Backed Security

A mortgage-backed security in which the mortgages on commercial building, offices, factories, apartments, and other buildings other than single-family homes collateralize the security. Unlike most other mortgage-backed securities, the structure of a CMBS is not standardized and as a result, it is difficult to assess its risk. It is also called a collateralized mortgage-backed security.
References in periodicals archive ?
30, 2006, Aetna was named special servicer on one commercial mortgage backed security (CMBS) transaction, representing nine loans and totaling $202 million.
The rating is based on ING Clarion's highly experienced asset management team with strong workout backgrounds and their demonstrated ability to special-service nonperforming assets securing commercial mortgage backed security (CMBS) transactions.
Since 1990, the $300 billion commercial mortgage backed security (CMBS) market has witnessed defeasance become a normal market alternative in lieu of yield maintenance and other prepayment penalties.

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