Fitch Ratings has assigned Imperial Capital Bank an SBSS3 special servicer rating for small-balance commercial products.Fitch said the rating is based on the company's ability to work out, resolve, and dispose of small-balance commercial mortgage loans and real-estate-owned properties. Fitch also affirmed Imperial Capital's primary servicer rating of SBPS3 for small-balance commercial loans. Fitch rates commercial servicers on a scale of 1 to 5, with 1 being the highest rating. Imperial Bank, based in La Jolla, Calif., can be found online at http://www.imperialcapitalbank.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.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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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%.
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