---
title: "What Is CMBS (Commercial Mortgage-Backed Securities)? | Calibre Glossary"
description: "Commercial mortgage-backed securities are bonds backed by pools of loans secured by commercial properties, with investors receiving payments from the."
url: https://calibre.multisites.ai/glossary/cmbs
publisher: Calibre Commercial Inspections
phone: "+1-208-305-6245"
email: Schedule@CalibreCBI.com
---

Financing and lending

# Commercial Mortgage-Backed Securities (CMBS)

Commercial mortgage-backed securities are bonds backed by pools of loans secured by commercial properties, with investors receiving payments from the borrowers' loan payments.

## Why it matters

CMBS lenders pool and sell loans, so they rely on standardized third-party reports. Many require an ASTM E2018 property condition assessment and a Phase I environmental report before closing. Reserve and repair requirements from those reports can shape loan terms.

Source: [investor.gov](https://www.investor.gov/introduction-investing/investing-basics/glossary/commercial-mortgage-backed-securities)

## Where we discuss it

-   [How Long Is a Property Condition Assessment Valid?](https://calibre.multisites.ai/cre-inspector-insights/how-long-is-a-property-condition-assessment-valid)
-   [ASTM E2018-24: What the Current Property Condition Assessment Standard Covers](https://calibre.multisites.ai/cre-inspector-insights/astm-e2018-24-property-condition-assessment-standard)
-   [Boise and Treasure Valley CRE: Strong Demand, Tighter Money, Rising Costs](https://calibre.multisites.ai/cre-inspector-insights/boise-and-treasure-valley-cre-strong-demand-tighter-money-rising-costs)
-   [PCA vs CBI: Which Commercial Inspection Report Works Best for You](https://calibre.multisites.ai/cre-inspector-insights/pca-or-cbi-which-inspection-report-works-best-for-you)

## Ready for your next inspection?

Tell us about the property and your timeline. We will scope the right report and send a proposal.

[Request a proposal](https://calibre.multisites.ai/request-proposal) [(208) 305-6245](tel:+12083056245)