Fitch Ratings has downgraded the long-term credit rating and distressed recovery rating of one class in COMM's commercial mortgage pass-through certificates, series 2000-C1 while upgrading or affirming the ratings of other classes in the deal.The rating of class N slipped to C/DR6 from CC/DR3 due to "increased loss expectations on the specially serviced assets," Fitch said, adding that, "projected losses on the specially serviced assets are expected to fully deplete [the unrated] class O and significantly impair class N." Fitch raised the ratings of class B through H and affirmed the ratings of class A-1, class A-2, interest-only class X, class J, class K, class L and class M. "The rating upgrades reflect increased credit enhancement due to scheduled amortization and additional defeasance," Fitch said. Fitch Ratings can be found on the Web at http://www.fitchratings.com.
-
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
31m ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
56m ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
2h ago -
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
10h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27