Six classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2002-TFL1, have been downgraded by Fitch Ratings.The downgrades were as follows: class E, from A-minus to BBB-minus; class F-ABP, from BBB-plus to BBB-minus; class G-ABP, from BBB-minus to BB-plus; class H-ABP, from BBB-plus to B-plus; class F-WBC, from BB-plus to B-plus; and class G-WBC, from BB-minus to B-minus. Classes E, F-WBC, and G-WBC were removed from Rating Watch Negative. In addition, Fitch placed three classes on Rating Watch Evolving and affirmed the ratings on eight other classes in the transaction. The downgrades were attributed to the pool's declining performance since issuance.
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The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
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The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
July 24 -
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
July 24 -
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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