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Cornell Real Estate Review

Article Title

CMBS: An Introduction

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 University. Reprinted with permission. All rights reserved.

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