Class I of Credit Suisse First Boston Mortgage Securities Corp.'s mortgage pass-through certificates, series 1998-C1, have been downgraded from CC to C by Fitch Ratings.Fitch also upgraded three classes in the deal and affirmed the ratings on five other classes. The downgrade was attributed to expected losses on specially serviced loans. Fitch expressed concern about the number of specially serviced loans in the transaction, of which there are currently eight. Of those, three loans totaling 0.9% of the deal are real-estate-owned properties. "Losses have been projected on the majority of specially serviced loans," Fitch said. "Appraisal subordinate entitlement reduction adjustments have already been realized to the trust for many of these loans."
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The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
9h ago -
A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
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An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22 -
Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
April 22 -
The top five loan officers produced an average of 628 loans in 2023.
April 22