Class M of Banc of America Commercial Mortgage Inc. commercial mortgage pass-through certificates, series 2001-1, has been downgraded from B3 to Caa1 by Moody's Investors Service.Moody's also upgraded five classes in the transaction and affirmed the ratings on 10 others. The downgrade was attributed to realized losses from the specially serviced loans and increased dispersion of loan-to-value ratios. The certificates are collateralized by 149 mortgage loans, of which four, representing 2.5% of the pool, are in special servicing.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
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The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6 -
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
May 6 -
Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.
May 6