The City of Indianapolis multifamily revenue bonds (Sunrise Apartment Project) have been downgraded from C to D by Fitch Ratings.The rating agency said the downgrade is based on the bond payment default as of the December 2003 distribution, reflecting the inability of the property to generate sufficient cash flow to service its principal and interest obligations. The bonds are secured by a mortgage loan on a 320-unit multifamily property in Indianapolis.
A Florida appraiser faces decades in prison after taking another's identity and claiming he conducted on-site inspection reports while based abroad.
Mike Kortas is looking to keep loan officers in the loop through the entire mortgage loan customer lifecycle and beyond, with the launch of evoLend.
Private residential construction spending rose 0.3% from April and 1.8% from a year ago to a seasonally adjusted annual rate of $930.2 billion in May.
Artificial intelligence is fueling litigation risks, from consumer lawsuits against servicers, to more repurchase requests, and vulnerabilities through vendors.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
