Three classes of Lehman Brothers Inc.'s commercial mortgage pass-through certificates, series 2006-CCL-C2, have been downgraded by Fitch Ratings and removed from Rating Watch Negative. The downgrades were as follows: class M, from BBB-minus to BB-plus; class ASH-1, from BBB to BB-plus; and class ASH-2, from BBB-minus to BB-plus. Fitch also upgraded one class and affirmed the ratings on five other classes in the deal. The downgrade to class M was attributed to the transfer of the Village Oaks loan to special servicing and the likelihood that associated fees and expenses will cause interest shortfalls. The other downgrades were attributed to "the likely accrual of special servicing fees on the Avalon at Seven Hills loan."
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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