题目
Credit risk is an important consideration for commercial mortgage-backed securities (CMBS) if the CMBS are backed by mortgage loans that:
选项
A.are non-recourse.
B.have call protection.
C.have prepayment penalty points.
答案
A
解析
： A is correct. If commercial mortgage loans are non-recourse loans, the lender can only look to the income-producing property backing the loan for interest and principal repayment. If there is a default, the lender looks to the proceeds from the sale of the property for repayment and has no recourse against the borrower for any unpaid mortgage loan balance. Call protection and prepayment penalty points protect against prepayment risk. ： A是正确的。如果商业抵押贷款是无追索权的贷款，贷款人只能指望产生收入的财产支持贷款的利息和本金偿还。如果发生违约，贷款人会将出售该物所得的款项用于偿还，并且对借款人没有任何未付按揭贷款余额的追索权。赎回保护和预付款罚款保护预付款风险。