A Post Covid World:
CMBS Credit Markets
In 2020, as the Covid-19 Pandemic brought significant changes, UCM’s inclination to scale into a Commercial Mortgage Backed Securities (CMBS) credit position, earned the respect of players in the sector, most of whom UCM had not engaged with before. UCM has traded over 2 billion of CMBS conduit and SASB credit bonds since the Coronavirus pandemic hit, buying 99% as principal before selling downstream to the UCM network.
Given our network in RMBS and ABS, UCM has an advantage in cross selling CMBS bonds to newer participants that might not have been impacted by sharp price declines, downgrades or redemptions.
UCM is a leading CMBS credit market maker trading credit tranches in the B, C, D, E, F, and G classes in Conduit and SASB categories. This is a testament of UCM’s ability to cultivate relationships, measure risk and handle buying and selling flows.
UCM is pleased to be expanding our ranks of experienced professionals. Isaac Maya, a former employee, who led UCM’s modeling of distressed Aircraft ABS, rejoined UCM in 2021. A leading analyst and former portfolio manager, Isaac will lead UCM’s CMBS desk analytics, modeling and surveillance efforts.