Someone else's money: commercial mortgage finance in the 1990s

Article Abstract:

The decline in real estate lending operations based on the commercial mortgage portfolios of financial institutions have led to the development of a new model for financing real estate. Commercial mortgage-backed securities (CBMS) have developed a stricter standard for credit underwriting and a broader credit spread for commercial mortgages. Investors have adopted strategies that will improve their earnings from commercial mortgage investments based on new and traditional resources. The integration of real estate and global capital markets have been enhanced by the CBMS.

Commercial Mortgages, Asset-backed securities, Asset backed securities, Real estate mortgage investment conduits

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Mutual funds and commercial collateralized mortgage-backed securities - where's the fit?

Article Abstract:

Mutual funds have established a strong market presence on Wall Street, capping 1994 with a total above $2.4 trillion in portfolio underwritings. Thus, their entry into commercial collateralized mortgage-backed securities (CMBSs) is expected to boost the latter's market stock. Such an entry will increase market demand and liquidity for CMBS shares. Mutual funds will also gain portfolio diversification benefits from a CMBS venture.

Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Mutual funds

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Staff report of the task force on mortgage-backed securities disclosure is issued

Article Abstract:

The report findings of three federal agencies on mortgage-backed securities (MBS) markets' current disclosure practices are discussed. The MBS report recommends enhanced pool-level disclosures in MBS offerings.

United States, Methods, Disclosure (Securities law)

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