Commercial Mortgage-Backed Securities

Learn how the secondary mortgage market and the securitization process convert pools of illiquid commercial real estate instruments into liquid commercial mortgage-backed securities (CMBS) for the benefit of borrowers, lenders, and investors. Topics covered in this course include the history of the commercial banking industry; loan package requirements; the due diligence process, including appraisal, engineering and environmental reports, underwriting, and pricing; risk issues; rating agency and loan tranching; loan documents and negotiation strategies; defeasance language; CMBS investors; and asset management and servicing.

Note: Registering at least two weeks prior to the start of the course date is highly recommended. Popular classes fill up quickly and more specialized classes need sufficient enrollment.

For general information about this course, please call 212-992-3336 or email sps.realestate@nyu.edu.

If you are registered for an online course and are not able to access/view your course in Brightspace, please note the following:

• It may take at least 24 hours from the time you registered for your information to be transferred into Brightspace.
• New students registering two days or LESS before the start date of the course may experience delayed access.

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