Class O of Banc of America Commercial Mortgage Inc.'s commercial mortgage pass-through certificates, series 2001-1, has been downgraded from CCC/DR2 to C/DR6 by Fitch Ratings.Fitch has also upgraded one class and affirmed the ratings on 14 other classes in the deal. The rating agency said the downgrades are due to increased loss expectations on the four specially serviced loans, of which the two largest (representing 2.2% of the pool) are multifamily properties in Columbia, Mo., that are suffering cash flow problems and were transferred to special servicing due to imminent default. The third-largest specially serviced asset is a retail shopping center in Arabi, La., that suffered heavy damage due to Hurricane Katrina and is being marketed by the special servicer.
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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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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.
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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.
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