Class J of GMAC Commercial Mortgage Securities Inc. series 1999-C1 mortgage pass-through certificates has been downgraded from B-minus/DR1 to CCC/DR2 by Fitch Ratings.Fitch also affirmed the ratings on nine other classes in the transaction. The downgrade was due to increased loss expectations for certain specially serviced loans and a greater number of Fitch loans of concern since its last rating action.
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
Better's home equity loan product can be originated in a week or less, the company says.
The top five producers had an average dollar loan volume of more than $140 million in 2023.
The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
