With more borrowers seeking to modify their commercial mortgage backed securities loans in increasingly complicated ways, Fitch Ratings has published a new report explaining its rationale for evaluating these requests.The report is designed to educate borrowers and CMBS servicers about the evaluation process and document needs when Fitch is asked for a rating confirmation. In issuing a confirmation, Fitch confirms that a modification to an existing loan will not affect the ratings of the transaction. The paper covers request issues such as assumptions, defeasance, management changes, and more complicated issues such as tenants-in-common structures.
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KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.
11h ago -
Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
March 29 -
New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
March 29 -
Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
March 29 -
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28