Class J of GE Capital Commercial Mortgage Corp.'s commercial mortgage pass-through certificates, series 2000-1, has been downgraded from CC/DR4 to C/DR5 by Fitch Ratings.Fitch also upgraded one class in the transaction and affirmed the ratings on nine classes. The downgrade was attributed to increased loss expectations.
Experts aren't forecasting immediate relief and instead are citing silver linings in rate certainty and greater mortgage demand as compared to the same time last year.
Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
Almost 75% of brokers reported growing non-QM volume in their business over the last three years, and just 3.7% said volume decreased, according to AD Mortgage.
The Bureau of Economic Analysis' personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.
Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
