Banking Industry's CMBS Leader Completes Second Commercial Mortgage Offering of 2002.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Aug. 26, 2002 Commercial real estate loan conduit Bridger Commercial Funding today announced the closing of its second 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. this year. Bridger, which focuses on originating CMBS CMBS See: Commercial Mortgage Backed Securities loans through the commercial banking industry, was one of four contributors to the $990 million pool. Other contributors to the offering, "GE Capital Commercial Mortgage Corporation, Inc., 2002-2," included Banc of America Securities, GE Capital, and Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank . 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 $1 billion in commercial real estate mortgage loans originated through its nationwide network of over 900 banks and thrifts. This was the seventh securitization to which Bridger contributed collateral. "We are pleased that Bridger and its banking industry clients continue to originate new CMBS loans that are being received favorably by bond buyers," stated Bob 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. "The bond buying community remains extremely receptive to CMBS, as it has all year," Schonefeld observed. The CMBS risk profile remains quite favorable relative to other fixed income investments. Credit risk in today's CMBS offerings is typically dispersed among over 150 properties, rather than being concentrated in a single corporate credit. Plus, property-level delinquencies and defaults have remained extremely low through the economic downturn, compared to much higher levels experienced in the previous economic recession of the early 1990s," he added. Bridger Commercial Funding is the leading commercial real estate capital markets resource serving the U.S. banking industry, with over 900 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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