Two classes of Banc of America Commercial Mortgage Inc. commercial mortgage pass-through certificates, series 2001-1, have been downgraded by Fitch Ratings.Class N was downgraded from B to B-minus/DR1, and class O was downgraded from B-minus to CCC/DR2. In addition, Fitch upgraded five classes in the deal and affirmed the ratings on nine other classes. The downgrades were due to increased loss expectations for five specially serviced loans, the rating agency said.
DSCR loans once allowed coverage ratios as low as 0.65, but 2023-24 vintage stress is pushing lenders toward stricter underwriting and interest-only structures.
The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.
Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
Median purchase loan payments hit $2,198 in May, up 2.1% from April, as rising rates and home prices threaten to dampen origination volume, MBA reports.
Experts aren't forecasting immediate relief and instead are citing silver linings in rate certainty and greater mortgage demand as compared to the same time last year.
Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
