Class B-4 of DLJ Mortgage Acceptance Corp.'s commercial mortgage pass-through certificates, series 1995-CF2, has been downgraded from B to CCC by Fitch Ratings.Fitch also upgraded one class in the transaction. The downgrade was attributed to expected losses on the one specially serviced loan in the pool and the increasing concentrations within the deal. Fitch said it considers 42.2% of the pool to be loans of concern. The one asset in special servicing is a real-estate-owned multifamily property in Amarillo, Texas, that accounts for 12.2% of the pool.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24