Classes D, E, and F of Chase Commercial Mortgage Securities Corp.'s mortgage pass-through certificates, series 2000-FL1, have been placed on Rating Watch Negative by Fitch Ratings.Fitch also placed two classes in the deal on Rating Watch Evolving and affirmed the rating on one other class. Fitch attributed the Rating Watch actions to uncertainty about the ability of the remaining four loans in the pool to pay off at maturity. "The largest loan (52.5%) is collateralized by an office property in Metairie, La., that suffered damage from Hurricane Katrina," the rating agency said. "The other three loans (47.5%) have all seen declines in occupancy and net cash flow since issuance."
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24