Even as the overall CMBS delinquency rate falls, deals issued in 2004 have experienced rising overdue rates, according to Fitch Ratings.The 2004 CMBS vintage delinquency rate climbed 34 basis points to 0.39% in 2006, even as the overall CMBS delinquency rate has improved by 28 basis points to 0.51%, Fitch said. The 2004 delinquency rate is higher than that for the more seasoned 2002 and 2003 vintages, Fitch noted, adding that vintage delinquency rates typically rise for the first eight years of seasoning. Fitch attributed the vintage 2004 problems to several large loans in Tennessee and Texas that have had an impact on the entire vintage year. Fitch Ratings can be found on the Web at www.fitchratings.com
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18