Class N of Credit Suisse First Boston commercial mortgage pass-through certificates, series 2001-CF2, has been downgraded from B-minus to CCC by Fitch Ratings.In addition, the ratings on 16 other classes in the transaction were affirmed. The rating agency attributed the downgrade to expected losses on several of the 10 specially serviced loans. The largest is secured by an office property in Olivette, Mo., that is more than 90 days delinquent. Fitch said the three largest tenants have announced that they will not renew their leases.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24