Two classes of COMM 2003-FL9 commercial mortgage pass-through certificates have been downgraded by Moody's Investors Service.Class J was downgraded from Baa2 to Ba1, and class K was downgraded from Baa to Ba2. Moody's also upgraded two classes in the transaction and affirmed the ratings of five other classes. The certificates are collateralized by one whole loan and one senior participation interest. The downgrades were attributed to the poorer performance of the Avenue at Tower City Loan, which is secured by a three-level urban retail center in Cleveland's Union Terminal Station. Occupancy as of September 2005 was approximately 72.5%, compared with 82.2% at the last Moody's review in May and 81.7% at securitization. The rating agency can be found online at http://www.moodys.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25