Class B-7 of DLJ Commercial Mortgage Corp's series 1999-CG1 commercial mortgage pass-through certificates has been downgraded from B-minus to CCC/DR1 by Fitch Ratings.Fitch also affirmed the ratings on 11 other classes in the transaction. "The downgrade is due to expected losses on specially serviced loans and the refinance risk of upcoming maturities," the rating agency said. The largest specially serviced asset is a retail property in Roanoke Rapids, N.C., that has been liquidated, Fitch reported. The second specially serviced asset is a retail property in Joliet, Ill., that is in foreclosure.
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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.
3h ago -
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.
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