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In fixed rate CMBS securitizations, the most senior AAA tranches (Class A-1) always have a short average life - as little as three years -
- In fixed rate CMBS securitizations, the most senior AAA tranches (Class A-1) always have a short average life - as little as three years - a period that is always less than even the shortest term loan in the collateral pool.How is that accomplished?
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Introduction to Finance Markets Investments and Financial Management
Authors: Melicher Ronald, Norton Edgar
15th edition
9781118800720, 1118492676, 1118800729, 978-1118492673
