Classes F, G, and H of J.P. Morgan Commercial Mortgage Finance Corp.'s mortgage pass-through certificates, series 1998-C6, have been placed on Rating Watch Negative by Fitch Ratings.The rating agency attributed the actions to interest shortfalls caused by the modification of a Days Inn-Airport loan with a retroactive effective date of January 2003. "As a result, Midland Loan Services LP, the master servicer, who was advancing on the loan during this period, will be taking back $350,000 in advances, as well as approximately $11,000 in advance interest," Fitch reported.
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Counter to prevailing narratives about rules and enforcement activity whipsawing from one administration to the next, public citations by federal banking regulators have steadily declined over the past decade — under both Democratic and Republican administrations.
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Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
July 7 -
The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
July 7 -
The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
July 7 -
The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
July 7 -
A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
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