Three classes of GE Capital Commercial Mortgage Corp. commercial mortgage pass-through certificates have been downgraded by Fitch Ratings. The downgrades were as follows: class H, from B-plus to B; class I, from B-minus to CCC/DR2; and class J, from C/DR5 to C/DR6. Fitch also affirmed the ratings on eight other classes in the transaction. The downgrades were attributed to increased loss expectations on a specially serviced loan and potential future defaults. The specially serviced asset is collateralized by a 292-unit multifamily property in Dallas that is in foreclosure, the rating agency said.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
9h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18