Finance

Fitch said Thursday it sees little risk of a negative rating impact on CMBS from the closure of 100 to 120 unspecified Sears and Kmart stores across the U.S., but noted there is some exposure in the commercial mortgage-backed securities universe to the concern.

Consumers are having a tough time qualifying for a mortgage these days, and even a federal program designed to provide financing for low- and moderate-income borrowers is winnowing out applicants with low credit scores.

The FDIC, which has seen nearly 100 banks fail during 2011, is projecting that figure may rise again in 2012.

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to implement a congressionally mandated increase in their loan guarantee fees on April 1.

A leading indicator of future home sales jumped 7.3% in the month ofNovember to its highest level in over 19 months, according to theNational Association of Realtors.