Four classes of J.P. Morgan Commercial Mortgage Finance Corp. commercial mortgage pass-through certificates, series 2000-C10, have been downgraded by Moody's Investors Service.The downgrades were as follows: class J, from Ba3 to B1; class K, from B2 to B3; class L, from B3 to Caa2; and class M, from Caa1 to Ca. Moody's also upgraded three classes in the deal and affirmed the ratings on seven others. The downgrades were attributed to realized losses, expected losses from five specially serviced loans, and LTV dispersion. (Moody's said 14.7% of the pool has a loan-to-value ratio greater than 100%, compared with 9.1% at last review and 0.6% at securitization.) Eleven loans have been liquidated, resulting in losses of approximately $9.8 million, and Moody's projects aggregate losses of approximately $9.6 million for the specially serviced loans. The certificates are collateralized by 152 mortgage loans in 33 states.
-
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25