Class B-6 of DLJ Commercial Mortgage Corp.'s commercial mortgage pass-through certificates, series 2000-CKP1, has been downgraded from B-plus to B by Fitch Ratings.Fitch also upgraded one class in the transaction and affirmed the ratings on 10 other classes. The rating agency said the downgrade reflects expected losses on the six specially serviced loans. The assets in special servicing include two real-estate-owned properties (0.9% of the pool), one 90-day delinquent loan (0.02%), and three loans that are current (2.7%). A sales contract is being negotiated on the larger REO asset, an office property in Austin, Texas, and a sale of the property is expected by the end of September, Fitch reported. "Sizable losses are expected upon disposition of this asset," the rating agency said. Losses are also expected on the other REO asset, as well as on the 90-day delinquent loan.
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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.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
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