Moody's Investors Service has downgraded the senior unsecured debt ratings of the New York-based Centro NP LLC (formerly New Plan Excel Realty Trust) from B1 to B3, citing additional liquidity and accounting issues at its corporate parent, Centro Properties Group, Melbourne, Australia. Centro's U.S. private placement noteholders are collectively owed $450 million, suggesting that "one or more events of default may have arisen under some or all of the notes," and the company has entered note extension agreements with these noteholders.
-
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
5h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
7h ago -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23 -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23 -
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23 -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23