Two classes of J.P. Morgan Chase Commercial Mortgage Securities Corp. series 2005-CIBC13 have been downgraded by Fitch Ratings. Class N was downgraded from B to B-minus, and class P was downgraded from B-minus to CCC/DR1. Fitch affirmed the ratings on 23 other classes in the deal. The downgrades were attributed to projected losses on the seven specially serviced loans. The projected losses are expected to affect the credit enhancement to classes N and P, Fitch said.
Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.
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.
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.
The merger will bolster existing safeguards against AI threats, while providing a tool that should appeal to young homebuyers, leaders of the companies said.
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.
Economic uncertainty and higher rates in May contributed to the second decline in applications for new homes on an annual basis, reversing March gains
