Three classes from Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2001-CF2, have been downgraded by Moody's Investors Service.The downgrades were as follows: class L, from Caa1 to Caa2; class M, from Caa3 to Ca; and class N, from Ca to C. In addition, Moody's upgraded one class from the deal and affirmed the ratings on 12 others. The downgrades were attributed to realized and expected losses on four specially serviced loans. The pool consists of 142 mortgage loans secured by commercial and multifamily properties. The rating agency can be found on the Web at http://www.moodys.com.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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May 10