Delinquencies on commercial mortgage-backed securities resumed their downward trend in May, falling three basis points to 0.66%, according to a Fitch Ratings loan delinquency index.Loans that have become real estate owned total 47% of the index, while foreclosures represent an additional 18%, the rating agency said. "Hotel properties represent a larger share of the REO category, 23%, than their 8% contribution to the outstanding CMBS universe, reflecting the sector's higher default probability due to the short-term nature of hotel leases," said Patty Bach, a Fitch senior director. Fitch can be found online at http://www.fitchratings.com.
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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