Two classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2001-CK3, have been downgraded by Moody's Investors Service.Class K was downgraded from Ba3 to B1, and class N was downgraded from B3 to Caa2. Moody's also upgraded five classes in the transaction and affirmed the ratings on nine classes. The downgrades were attributed to realized and anticipated losses from the three specially serviced loans, which represent 2.2% of the pool, and loan-to-value dispersion. Moody's said the certificates are collateralized by 167 mortgage loans, and the pool consists of three shadow-rated loans, representing 18.5% of the pool, and a conduit component, representing 81.5%. The rating agency said 13.9% of the conduit pool has an LTV greater than 100%, compared with 2% at securitization. Moody's can be found online at http://www.moodys.com.
-
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
1h ago -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
4h ago -
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17