Class M of GMAC Commercial Mortgage Securities Inc.'s mortgage pass-through certificates, series 2000-C1, has been downgraded from CC to C by Fitch Ratings.Fitch also upgraded five classes from the transaction and affirmed the ratings on eight other classes. The downgrade was attributed to expected losses on several specially serviced loans that would hurt credit enhancement levels. Three assets representing 3.2% of the pool are in special servicing and real estate owned, and losses are expected on two of them, the rating agency reported. Additionally, one loan has been transferred into special servicing since the August distribution date. Fitch can be found online at http://www.fitchratings.com.
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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.
6h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
7h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
8h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18