The maturing of the commercial mortgage-backed securities market

Article Abstract:

Commercial mortgage-backed securities (CMBS) and Real Estate Investment Trusts (REITs) have eliminated many of the inadequacies in their structure and now occupy an important place in commercial real estate and mortgage financing. Since their inception in 1991, CMBS and REITs have been important in financing group care facilities, mini-warehouses and mobile home parks. The Resolution Trust Corporation's management of CMBS has impressed investment companies and rating agencies.

Management, Finance, Real estate investment trusts, Mortgage-backed securities, Mortgage backed securities, Commercial loans, Real estate mortgage investment conduits

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When the levee breaks: cautionary tales for the CMBS industry. (collateralized mortgage-backed securities)

Article Abstract:

Changes in the US property market during the early 1990 resulted in the development of the collateralized mortgage-backed security as a new financing instrument. Human nature is still the same; it does not matter which financing instrument is used. Servicer liability should be introduced at the simple negligence rather than the gross negligence level.

Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, Analysis, Securities industry

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Reacting to the 1998 market's decline

Article Abstract:

Real estate companies need to evaluate their executive compensation packages in 1999 to ensure that they are adequately compensating their top talent as well as addressing current market and economic issues. Many real estate companies have used repricing approaches or waiting for a market rebound.

Compensation and benefits

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