commercial mortgage-backed securities

That might not impress those of his friends still rating commercial mortgage-backed securities on New York's State Street Plaza.

Non-agency mortgages and commercial mortgage-backed securities are the most attractive sectors of this market, BlackRock said.

As the economy improves, and banks become more willing to lend, the market for commercial mortgage-backed securities is also warming up.

But demand for commercial-mortgage-backed securities has plunged because investors want higher returns to compensate for growing risk.

That means misery for securities firms with exposure to commercial-real-estate loans and commercial- mortgage-backed securities.

Another $1 trillion is due to mature by 2018, much of this second wave in commercial mortgage-backed securities (CMBS).

Standard & Poor's, another rating agency, has said that many commercial mortgage-backed securities are highly susceptible to downgrades.

And in a fresh problem area for banks, commercial-mortgage-backed securities are declining in value, Mr. Pierce said.

So far, default rates on commercial-mortgage-backed securities are a slim 0. 4%.

The banker also helped create Lehman's commercial mortgage-backed securities business in 1986.

He's purchased about $2 billion of beaten-down commercial mortgage-backed securities.

Britain's market is also less financed by commercial mortgage-backed securities and more through commercial bank loans.

Commercial Mortgage-Backed Securities, Commercial mortgage backed security, Commercial mortgage-backed securities,