A Practice Note providing an overview of commercial mortgage-backed securities (CMBS) lending that distinguishes CMBS mortgage loans from traditional mortgage loans. This Note discusses CMBS loan origination and securitization and the ways in which rating criteria affect loan documentation and the intercreditor relationship between the CMBS lender and other creditors of the borrower, specifically mezzanine lenders. This Note also briefly discusses real estate mortgage investment conduits (REMICs) and REMIC criteria.