Seven classes of J.P. Morgan Chase Commercial Mortgage Securities Trust commercial mortgage pass-through certificates, series 2007-FL1, have been downgraded by Moody's Investors Service. The downgrades were as follows: class RS-1, from Aa3 to Ba1; class RS-2, from A1 to Ba2; class RS-3, from A2 to Ba3; class RS-4, from A3 to B1; class RS-5, from Baa1 to B2; class RS-6, from Baa2 to B3; and class RS-7, from Baa3 to Caa1. The downgrades were due to a recent decline in the Resorts International Portfolio's cash flow, Moody's said. The rating agency can be found online at http://www.moodys.com.
-
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
2h ago -
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
3h ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
4h ago -
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
5h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
6h ago -
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
May 10