What is the CMBS E-Primer 2022 Edition?
CREFC's CMBS E-Primer is a comprehensive educational resource in a convenient
e-book format. It is intended to serve all participants in the US commercial
mortgage-backed securities (CMBS) industry. This latest edition consolidates
the writings of today’s leading CMBS experts into a unified primer on the
creation of, investment in, and transaction of CMBS.
The CMBS E-Primer 2022 Edition is broken down into the following chapters:
- An Overview of CMBS
- CMBS – History & Evolution
- Originating and Underwriting Commercial Mortgages for CMBS
- CMBS Structuring
- AAA Rated CMBS
- Investing in Mezzanine CMBS
- Investing in Interest-Only (IO) CMBS
- Investing in B-Piece CMBS
- Single Asset Single Borrower (SASB) CMBS
- CMBS Life Cycle and Administration – Origination Through Termination
- An Overview of the Taxation of REMICs
$125 for Academic Members*
$300 for all other Members
$550 for non-Members
Discounts for Organizations Ordering in Bulk*:
10-25 = 10% off
26-50 = 20% off
51+ = 30% off
View a 10 Page Sample
Click here to access a 10 page sample of the CMBS E-Primer.
How long do I have access to the CMBS E-Primer?
Your E-Primer license is valid for the 2022 Edition of this educational tool and will not be applied toward newer versions in the future.
How often is the CMBS E-Primer updated?
At the time of the 2022 Edition’s publication we expect the next edition to be published no earlier than January 2024.
*Academic Rates
Qualifications for CREFC Academic membership:
- A full-time student or Professor
- A current CREFC Member OR employed full time
Your status will be vetted prior to receiving discounted rates for online resources/events. Apply here. Once approved contact Danielle Nathan for your discount code.
*Bulk Rates
Bulk rates are only available for Member organizations. Names and information for each license must be provided on the approved template (and submitted all together). An invoice with the applied discount will then be provided. For additional information contact Danielle Nathan.
Terms of Service
To view the Terms of Service for this educational piece click here.

