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The firm's model is to bring borrowers directly to lenders for a flat fee.
The launch of SCH Trading comes after the company sold its commercial real estate lending business to Regions Bank last month.
Commercial mortgage servicers are finding it tough to attract and retain staff.
The BlackRock vehicle is the only passively managed dedicated CMBS ETF.
The move comes as more borrowers are turning to non-bank lenders.
Projections for conduit issuance remain unchanged.
Lenders are hopeful but cautious as the covid-19 pandemic drags on.
Market participants foresee some potential integrational and operational issues when lenders step away from LIBOR on December 31.
Torchlight Debt Fund VII is the largest US real estate debt fund to be closed this year.
Mutual funds and ETFs can offer a liquidity sleeve for institutional investors.