Two classes of GE Capital Commercial Mortgage Corp. commercial mortgage pass-through certificates, series 2000-1, have been downgraded by Fitch Ratings.Class I was downgraded from B to B-minus, and class J was downgraded from CCC to C. The rating agency also upgraded five classes in the deal and affirmed the ratings on five others. Fitch attributed the downgrades to decreased credit enhancement due to realized losses and expected losses on loans in special servicing.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
2h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
6h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
9h ago -
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.
10h ago -
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.
11h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24