Class L of Commercial Mortgage Acceptance Corp. commercial mortgage pass-through certificates series 1998-C2 has been downgraded from CC/DR4 to C/DR5 by Fitch Ratings. Fitch also upgraded one class in the transaction and affirmed the ratings on seven other classes. The downgrade was attributed to potential losses on three loans recently transferred to special servicing.
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.
