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It’s Complicated: Commercial Mortgage-Backed Securities

It’s Complicated: Commercial Mortgage-Backed Securities

Commercial mortgage-backed securities (CMBS) issuance peaked in 2007, at $230 billion, and was a source of high-proceeds, competitive-rate financing for commercial real estate and multifamily. Following the Great Recession, the Dodd-Frank Act of 2010, and the 2012 economic recovery, the CMBS...

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