Fitch Ratings has downgraded the senior unsecured debt and preferred stock ratings of Shurgard Storage Centers Inc., a Seattle-based real estate investment trust.The debt rating was lowered from BBB to BBB-minus, and the preferred stock rating was lowered from BBB-minus to BB-plus. The Rating Outlook remains negative, the rating agency said. The downgrades reflect "a weakening trend in interest coverage metrics" over the past two years and an increase in the company's debt leverage from 43% at the end of 2003 to 53% as of March 31, Fitch said. Fitch can be found on the Web 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