Class B-3 of Asset Securitization Corp.'s commercial mortgage pass-through certificates, series 1996-D3, has been downgraded from C to D by Fitch Ratings.The ratings on eight other classes in the same series were affirmed. Fitch attributed the downgrade to the liquidation of a hotel in Lubbock, Texas, that resulted in a loss of approximately $2.4 million to the trust.
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
