气球风险是借款人无法安排再融资或出售房产以进行通常与支持 CMBS 的商业贷款相关的气球付款的风险是什么意思

问题如下：

Investors in commercial mortgage-backed securities (CMBS) face balloon risk, which is most likely a type of:

选项：

A.call risk. B.contraction risk. C.extension risk.

解释：

C is correct. Balloon risk is the risk that the borrower will not be able to arrange for refinancing or sell the property to make the balloon payment typically associated with commercial loans backing CMBS. As a result, the CMBS may extend in maturity, implying that balloon risk is a type of extension risk.

A is incorrect because balloon risk is the risk that the borrower will not be able to arrange for refinancing or sell the property to make the balloon payment typically associated with commercial loans backing CMBS. As a result, the CMBS may extend in maturity, implying that balloon risk is a type of extension (not call) risk.

B is incorrect because balloon risk is the risk that the borrower will not be able to arrange for refinancing or sell the property to make the balloon payment typically associated with commercial loans backing CMBS. As a result, the CMBS may extend in maturity, implying that balloon risk is a type of extension (not contraction) risk.

考点：CMBS

解析：气球风险是指借款人无法进行再融资或者卖掉房子以支付最后一笔balloon payment的风险。因此，CMBS的期限可能会延长，这意味着气球风险是一种延期风险。