Classes K-JP and M-JP of COMM 2002-FL6 commercial mortgage pass-through certificates have been downgraded and removed from Rating Watch Negative by Fitch Ratings.The rating agency also upgraded three classes in the deal, affirmed the ratings on 15 classes, and affirmed the ratings on three others and removed them from Rating Watch Negative. Fitch said the downgraded classes represent the B-note portion of a J.P. Morgan Industrial Portfolio loan. The occupancy of the portfolio's Bollingbrook, Ill., property is 88.6%, but Sony Corp. of America occupies 284,000 square feet (65.4%) on three short-term leases, Fitch said. Sony is apparently interested in leasing the entire building, but another tenant is leasing 23% of the space under a long-term lease. The rating agency said market rents in Bollingbrook are lower than the average rent per square foot at issuance. Fitch can be found online at http://www.fitchratings.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18