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CMBS: An Introduction

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Abstract

Commercial backed securities (CMBS) were conceived during the last major real estate downturn- the Savings & Loan Crisis of the early 1990s- as an answer to a lack of liquidity which plagued real estate. Deemed viable financial instruments, they were extolled as risk mitigators and credit enhancers and provided a means to finance large transactions by breaking them into smaller components.

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Cornell Real Estate Review

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Vol. 7

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Sponsorship

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2009-05-01

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Cornell; real estate; commercial backed securities; bonds; bankruptcy; contract inadequacy; tranches; foreclosure; legacy loan securities

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Government Document

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Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.

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article

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