Banking Industry's CMBS Leader, Bridger Commercial Funding, Completes Offering.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--May 29, 2002 Commercial real estate loan conduit Bridger Commercial Funding announced the closing of its sixth loan securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. yesterday. Bridger, which focuses on originating CMBS CMBS See: Commercial Mortgage Backed Securities loans through the commercial banking industry, contributed $118 million in loans to a $1.1 billion pool of commercial mortgages. The CMBS offering "Banc of America Commercial Mortgage, Inc. 2002-PB2", was underwritten by Banc of America Securities, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. and JP Morgan. In the past three years, Bridger has securitized securitized Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds. over $800 million in commercial real estate mortgage loans originated through its nationwide network of over 850 commercial banks. "The breadth of our customer base enables us to deliver loans to the bond-buying community that are diverse in terms of geography and property mix. This diversification is very attractive to the bond investors," said Robert Schonefeld, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bridger. Schonefeld added that Bridger's strategy is to be a frequent contributor to securitizations so that the firm can keep its customers abreast of current market conditions, issues and pricing. "This offering was one of Bridger's most successful," Schonefeld observed. "Our bank-originated collateral continues to be received extremely favorably by bond buyers. CMBS market dynamics are quite favorable right now, and we expect them to continue throughout this year and beyond." Bridger Commercial Funding is the leading commercial real estate capital markets resource serving the U.S. banking industry, with over 850 bank relationships nationwide. Bridger's innovative products and technology applications help banks maximize their risk-adjusted returns by accessing the secondary mortgage market. Bridger's commercial mortgage-backed securities Commercial mortgage-backed securities (CMBS) are a type of bond commonly issued in American security markets. They are a type of Mortgage-backed security which are backed by mortgages on commercial rather than residential real estate. (CMBS) loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. program enables banks to boost financial performance by generating substantial fee income while retaining and enhancing borrower relationships. In addition, Bridger's BankXchange(tm) program optimizes banks' loan portfolio risk profiles and returns by facilitating purchases and sales of loan portfolios, whole loans and participations. Through a growing network of over 3,100 commercial loan officers nationwide, Bridger is commercial real estate banking's premier provider of secondary market origination and trading solutions. |
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