Class M-7 of CBA Commercial Assets 2005-1 has been downgraded from CCC-minus to D by Standard & Poor's Ratings Services. The downgrade resulted from a $1.1 million principal loss stemming from the liquidation of two assets in special servicing, S&P said. The first asset was a 95-unit multifamily property in Wichita Falls, Texas, and the second was a nine-unit multifamily property in Manchester, N.H.
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.
