These securities are backed by income-producing real estate, usually in the form of warehouses, shopping centers, apartments, office buildings, senior housing, health care facilities, and hotel/resort properties. These loans are originated usually by conduit organizations like commercial mortgage companies, which negotiate and close commercial real estate loans that are then incorporated into a CMBS. This is a popular way to generate mortgages or to securitize. Other less popular CMBS are liquidating trusts and multi-property single-borrower programs.