CMBS: An Introduction
Weis, Alex; Njoku, John
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.
Cornell Real Estate Review
Volume & Issue:
Cornell; real estate; commercial backed securities; bonds; bankruptcy; contract inadequacy; tranches; foreclosure; legacy loan securities
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