Class L of Bear Stearns Commercial Mortgage Securities Inc. commercial mortgage pass-through securities, series 1999-WF2, has been downgraded from CCC to CC by Fitch Ratings.In addition, six classes in the deal were upgraded and the ratings on seven other classes were affirmed, Fitch said. The reason for the downgrade is that losses on class M are expected to reduce its balance to zero and "significantly impair" the balance of class L, according to the rating agency. Fitch can be found online at http://www.fitchratings.com.
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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.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
7h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
8h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
9h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
11h ago -
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
April 18