Criimi Mae Inc., Rockville, Md., has reported a net loss of $7.4 million ($0.49 per share) for the third quarter, compared with a net loss of $25.1 million ($1.80 per share) a year earlier.The results include $4.7 million of impairment charges on subordinated commercial mortgage-backed securities, the real estate investment trust said. "The credit performance of the mortgage loans underlying Criimi Mae's CMBS continues to be impacted by the lagging weakness in the hotel, retail, and certain other commercial property sectors contributing to the company's recognition of impairment during the second and third quarters of this year," said Barry Blattman, chairman and chief executive officer of the REIT. "However, a 16% decrease in the total specially serviced loans since the second quarter is a positive development for Criimi Mae." Criimi Mae's website address is http://www.criimimaeinc.com.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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