Two classes of COMM commercial mortgage pass-through certificates, series 2000-C1, have been downgraded by Fitch Ratings.Class M was downgraded from CCC/DR1 to C/DR6, and class L was downgraded from B-minus to CCC and assigned a Distressed Recovery rating of DR1. (Distressed Recovery ratings, which designate a transaction's recovery prospects, range from a high of DR1 to a low of DR6.) Fitch also upgraded five classes from the transaction, and the ratings on seven classes were affirmed. The downgrades are the result of increased loss expectations on the specially serviced assets, the rating agency said. Fitch said its projected losses on the specially serviced assets are expected to fully deplete classes N and O and negatively affect classes L and M.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
8h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
11h ago -
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
July 11 -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
July 11 -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
July 11 -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
July 11