Two classes of Credit Suisse First Boston's commercial mortgage pass-through certificates, series 2001-CF2, have been downgraded by Fitch Ratings.Class M was downgraded from B to CCC, and class N was downgraded from CCC to C. In addition, Fitch upgraded seven classes in the deal and affirmed the ratings on seven others. The downgrades reflect an increase in expected losses on three of the four specially serviced assets, the rating agency said. The largest loan in special servicing (1.9%) is secured by an office property in Minneapolis and is current, Fitch reported. The loan was transferred to the special servicer in December 2005 due to imminent default.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18