CMBS stands for Commercial Mortgage Backed Security. A CMBS loan is a mortgage loan that is secured by commercial real estate. CMBS loans are packaged together and sold to investors.
The requirements for a loan to qualify for securitization are very specific for the type of loan and the underlying documents securing the loan.
Yes.
Every CMBS transaction requires the borrower to have an attorney, commonly referred to as “Borrower’s Counsel.”
The borrower will also need a NY Attorney to provide an opinion letter attesting to the validity of the borrower’s organizational structure and the transaction documents.
Our firm provides a licensed NY Attorney to write these opinions for our clients.