Effective December 24, 2016, CMBS issuers -- or B-piece buyers in their stead -- will be required to retain 5% of transactions for at least five years. CMBS issuers can retain a “vertical strip” encompassing 5% of every tranche, a “horizontal” 5% strip at the bottom of the capital stack, or an … [Read more...] about 5.27.16: CMBS Lenders Test Risk-Retention Structures
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