Class G of JP Morgan Chase Commercial Securities Corp. series 2001-A has been removed from Rating Watch Negative by Fitch Ratings. Fitch also affirmed the ratings on seven other classes in the transaction. The removal of class G from Rating Watch was attributed to "the pending modification of the largest loan in the transaction," which had been transferred to special servicing due to a maturity default. The borrower is negotiating with the special servicer on a loan extension, Fitch reported. A majority of the collateral (54.8%) consists of retail properties, and 9.8% consists of health care properties, the rating agency said.
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California Gov. Gavin Newsom signed a bill that requires HOAs to hold a minimum reserve contribution and the California Fair Lending Examination Act last week.
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The REIT accused the wholesale leader of hiding its massive market gamble during the negotiations, which resulted in $741 million in losses.
October 6 -
The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.
October 6 -
The megalender's new platform, called Orbit, aims to provide its broker partners with advantages and perks that help them compete in a tough rate environment.
October 6 -
While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
October 5 -
Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.
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