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  "domain": "real-estate-finance",
  "title": "Japan CMBS and RMBS securitization market",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Japan CMBS and RMBS securitization market",
    "aliases": [
      "japan-cmbs-rmbs-securitization",
      "Japan CMBS market",
      "Japan RMBS market",
      "日本 CMBS RMBS 市場",
      "Japan commercial mortgage-backed securities",
      "Japan residential mortgage-backed securities",
      "Japan property securitization",
      "Japan real-estate securitization market"
    ],
    "domain": "real-estate-finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "real-estate-finance",
      "securitization",
      "cmbs",
      "rmbs",
      "structured-finance",
      "rating-agency",
      "japan"
    ],
    "status": "active",
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    "sources": [
      "https://www.ares.or.jp/action/jreit/",
      "https://www.jpx.co.jp/english/markets/products/securitized/",
      "https://www.jhf.go.jp/about/index.html",
      "https://www.jcr.co.jp/en/rrinfo/meth_sf/",
      "https://www.r-i.co.jp/en/rating/about/credit-rating/",
      "https://www.spglobal.com/ratings/en/",
      "https://www.moodys.com/",
      "https://www.boj.or.jp/en/statistics/index.htm",
      "https://www.jsda.or.jp/shiryoshitsu/toukei/doukou/index.html",
      "https://www.jhf.go.jp/about/investor/shisan_tanpo/index.html",
      "https://www.jhf.go.jp/english/mbs_faq.html"
    ]
  },
  "summary": "Japan's mortgage-backed securitization market includes JHF MBS, private RMBS, and CMBS. Scale, issuer mix, structures, ratings, and distribution must be measured for a stated period from current JHF, JSDA, and transaction disclosures. This page explains the JHF payment mechanism and supplies deal-sp",
  "headings": [
    "Japan CMBS and RMBS securitization market",
    "TL;DR",
    "Wiki route",
    "Two strands at very different scales",
    "Historical arc",
    "JHF Monthly Pass-Through MBS",
    "Private RMBS",
    "Rating-agency criteria for RMBS",
    "Single-borrower CMBS post-2010",
    "Conduit CMBS — activity-status test"
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