Three classes of J.P. Morgan Chase Commercial Mortgage Securities Corp. series 2005-CIBC12 have been downgraded by Fitch Ratings. The downgrades were as follows: class M, from B-plus to B; class N, from B to B-minus; and class P, from B-minus to CCC/DR1. Fitch also affirmed the ratings on 21 other classes in the transaction. The downgrades were attributed to projected losses on the mortgage pool's three specially serviced loans, which are collateralized by: a retail property in St. Thomas, Virgin Islands, that is 90 days delinquent; a suburban office building in New London, Conn., that is 90 days delinquent; and an office property in Buffalo, N.Y., that has defaulted.
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Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.
June 19 -
The industry association said total multifamily mortgage debt alone increased by $23 billion, or 1% in Q1, representing a $2.32 trillion increase from Q4 2025.
June 18 -
Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.
June 18 -
The merger will bolster existing safeguards against AI threats, while providing a tool that should appeal to young homebuyers, leaders of the companies said.
June 18 -
At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.
June 18 -
Economic uncertainty and higher rates in May contributed to the second decline in applications for new homes on an annual basis, reversing March gains
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