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Commercial Mortgage Backed Security definition

Commercial Mortgage Backed Security. (or “CMBS”) means an Asset-Backed Security where the security is backed by cash flows from mortgage loans (or participation interests therein) secured primarily (i.e., 95% or more of the value of the loans) by first liens on mixed-use, commercial or multifamily properties.
Commercial Mortgage Backed Security or "CMBS" means a security issued as part of a securitisation of a pool of receivables and at least 50 per cent. of such receivables are commercial mortgage receivables.
Commercial Mortgage Backed Security means securities backed by obligations (including certificates of participations in obligations) that are principally secured by mortgages on real property or interests therein having a multifamily or commercial use, such as regional malls, retail space, office buildings, warehouse or industrial properties, hotels, nursing homes and senior living centers.

Examples of Commercial Mortgage Backed Security in a sentence

  • It is normal industry practice for conventional Lenders to finance multiple projects using a single cross-collateralized financing mechanism, or various “pooled” financing structures, such as CMBS (a Commercial Mortgage Backed Security).

  • Considerations relating to specific types of MBS in which a Fund may invest Commercial Mortgage Backed Security (“CMBS”)A CMBS is a type of mortgage backed security that is secured by the loan on a commercial property; CMBS can provide liquidity to real estate investors and to commercial lenders.

  • Considerations relating to specific types of MBS in which a Fund may invest  Commercial Mortgage Backed Security (“CMBS”) A CMBS is a type of mortgage backed security that is secured by the loan on a commercial property; CMBS can provide liquidity to real estate investors and to commercial lenders.

  • In or around May 2011, Plaintiff rejoined UBS Securities as a Senior Commercial Mortgage- Backed Security (“CMBS”) Strategist and Executive Director.

  • Because the Commercial Mortgage Backed Security (CMBS) legal structure requires detailed disclosures, the CMBS database provides a reliable and measurable stock of information that is not publically available though other commercial real estate lenders such as commercial banks, investment funds or life insurance companies.

  • That outcome was furthered by the simultaneous withdrawal of Commercial Mortgage Backed Security (CMBS) financing on the mortgage side, caused by the same sudden crunch in public markets in the fall of 1998.Yet commercial properties themselves were doing very well, because the economy kept on expanding.

  • CMBS Exposure Wrapped by Monoline InsurersThe deterioration in the commercial mortgage market has resulted in increased exposure to monoline insurers and other financial guarantors that provide credit protection.The table below shows Commercial Mortgage Backed Security (CMBS) assets where we held protection from monoline insurers at 31st March 2009.

  • In comparison, the average LTV on private-label multifamily conduit transactions over 1995-1996 was 73 percent based on HUD's analysis of Commercial Mortgage Backed Security data.

  • For projects that affect geographic factors and landscapes, such as mining and other projects that involve underground constructions, this description needs to be more detailed.

  • DLF Ltd has informed BSE that DLF Emporio Limited, a subsidiary of DLF Limited, has successfully placed India's first Commercial Mortgage Backed Security (CMBS) issuance of Rs. 525 crore, with a coupon rate of 10.90% p.a. and Legal Maturity of 7.5 years 23-May-14DLF Ltd has informed BSE that the Hon’ble COMPAT has pronounced the Order today upholding certain findings of the earlier Orders of CCI.


More Definitions of Commercial Mortgage Backed Security

Commercial Mortgage Backed Security means any Asset Backed Security in respect of which at least 50 per cent. of the relevant Financial Assets are commercial mortgage receivables and/or commercial or governmental lease receivables.
Commercial Mortgage Backed Security means a security (other than a loan) backed by obligations (including certificates of participation in obligations) that are principally secured by mortgages on real property or interests therein having a commercial use, such as regional malls, retail space, office buildings, warehouse or industrial properties, nursing homes and senior living centers.

Related to Commercial Mortgage Backed Security

  • Mortgage-Backed Security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Commercial Mortgage Loan means a Loan secured by a Mortgage on real property used for commercial purposes, including five- or greater unit residential real property.

  • Mortgage-backed Securities means securities that are secured or otherwise backed by Mortgage Loans.

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.

  • Residential mortgage loan means any loan primarily for

  • Initial Mortgage Loans The Mortgage Loans included in the Trust as of the Closing Date.

  • Conventional Mortgage Loan Any Mortgage Loan that is not an FHA Loan.

  • Initial Mortgage Rate As to each Mortgage Loan, the Mortgage Rate in effect prior to the Initial Adjustment Date.

  • Original Mortgage Loan The mortgage loan refinanced in connection with the origination of a Refinancing Mortgage Loan.

  • Asset-backed security means a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders;

  • Additional Mortgage shall have the meaning assigned to such term in Section 5.10(c).

  • Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.

  • Nontraditional mortgage product means any mortgage product other than a 30-year fixed rate mortgage.

  • Commercial motor vehicle means a motor vehicle or combination of motor vehicles used in commerce to transport passengers or property if the motor vehicle:

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • REAL ESTATE MORTGAGE INVESTMENT CONDUIT (A "REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). [FOR SUBORDINATE CERTIFICATES][THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE CLASSES OF CERTIFICATES OF THE SAME SERIES AS AND TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.] [FOR PRINCIPAL BALANCE CERTIFICATES][THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.] [FOR CLASS X-1 AND CLASS X-2 CERTIFICATES][THE OUTSTANDING CERTIFICATE NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL.] [FOR REGULATION S GLOBAL CERTIFICATES][PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (A) THE CLOSING DATE AND (B) THE COMMENCEMENT OF THE INITIAL OFFERING OF THE CERTIFICATES IN RELIANCE ON REGULATION S, THIS CERTIFICATE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED. NO BENEFICIAL OWNERS OF THIS CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Asset Backed Certificate (herein called the “Certificate”). Also issued under the Indenture, dated as of November 4, 2015, among the Trust, The Bank of New York Mellon, as trustee and indenture collateral agent, are six classes of Notes designated as “Class A-1 0.50000% Asset Backed Notes” (the “Class A-1 Notes”), “Class A-2-A 1.26% Asset Backed Notes” (the “Class A-2-A Notes”), “Class A-2-B Floating Rate Asset Backed Notes” (the “Class A-2-B Notes” and together with the Class A-2-A Notes, the “Class A-2 Notes”), “Class A-3 1.70% Asset Backed Notes” (the “Class A-3 Notes”), “Class B 2.11% Asset Backed Notes” (the “Class B Notes”), “Class C 2.88% Asset Backed Notes” (the “Class C Notes”), “Class D 3.72% Asset Backed Notes” (the “Class D Notes”) and “Class E 4.31% Asset Backed Notes” (the “Class E Notes”) (the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles, vans or light duty trucks (the “Receivables”), all monies due thereunder on or after the Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, title and interest of the Seller in and to the Purchase Agreement, dated as of November 4, 2015 between AmeriCredit Financial Services, Inc. and the Seller and all proceeds of the foregoing. The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable. Distributions on this Certificate will be made as provided in the Trust Agreement or any other Basic Document by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Servicer on behalf of the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee in the Corporate Trust Office. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose. THIS CERTIFICATE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Mortgage servicer means the mortgagee or a person other than the mortgagee to whom a mortgagor or the mortgagor’s successor in interest is instructed by the mortgagee to send payments on a loan secured by the mortgage. A person transmitting a payoff statement for a mortgage is the mortgage servicer for purposes of such mortgage.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.