Class C of DLJ Commercial Mortgage Corp.'s mortgage pass-through certificates, series 1999-CG3, has been downgraded from CCC to CC by Fitch Ratings.In addition, the ratings on 16 other classes in the deal were affirmed. The downgrade stems from an increase in the amount of expected losses associated with the five specially serviced loans, Fitch said. The largest loan, a multifamily property in Dallas, is currently real estate owned, and a new property manager is assessing life/safety issues at the property, the rating agency said. The second-largest loan is collateralized by a multifamily property in Memphis and is also REO.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25