Commercial property backed loans

Whatever the structure, however, it is the performance of an underlying ring-fenced pool of commercial property backed loans (and therefore the commercial property itself) that will primarily determine the performance of the securitisations, and we believe that it is probably more appropriate, from an investor s perspective, to group transactions according to the type of credit analysis that is most useful for comparing these securities. 

The weighted average debt service cover ratio (DSCR) is an important element in the analysis of commercial property backed loans. It indi-... 

The financing of mortgage-backed loans for residential and commercially used properties (i.e., mortgage loans). 

The loans underlying commercial mortgage-backed securities are, as the name implies, for commercial, as opposed to residential, properties. CMBSs trade like other mortgage securities but differ in structure. 

Commercial mortgages are loans made against commercial property. A CMBS is created from a pool, or trust, of commercial mortgages, whose interest and principal payments back the bond s cash. It is rated in the same way as a residential mortgage security and usually includes a credit... 

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