Investing in Commercial Mortgage-Backed Securities

Commercial mortgage-backed securities (CMBS)–securitizations of mortgage loans backed by commercial real estate–have become compelling devices for fixed income investing. This title, edited by renowned financial expert Frank Fabozzi, describes the structure, valuation, and performance of CMBS, illustrates an empirical framework for estimating CMBS defaults, instructs how to value prepayment and credit risks of CMBS, and more.