Eight classes from Banc of America Commercial Mortgage Trust 2007-2 have been downgraded by Standard & Poor's Ratings Services. S&P also affirmed the ratings on 18 other classes in the transaction. "The downgrades reflect anticipated credit support erosion upon the eventual resolution of three of the six specially serviced assets," S&P said.
The fintech integrates with payroll systems of employers to arrange early access to earned wages for its customers.
Larger public companies' high-profile servicing acquisitions tend to get the spotlight, but the two top leaders in the Ginnie MSR market are quieter players currently run as private companies.
Hometap's product provides homeowners with cash in exchange for a share of their home's future value, but the company has been faced with legal challenges claiming deceptive marketing.
Mortgage apps fell 6% as rates hit a near three-year high, but ARM share reached its highest since October 2025 and 21% of listings saw price cuts, openings for buydown pitches.
ICE announced Wednesday the launch of Residential Whole Loan Evaluations, which extends its evaluated pricing process to individual, unsecuritized loans.
The rare critique co-filed by an industry trade group suggests mandatory detention of noncitizens is contributing to a slowdown in new home construction.
