Three classes of LB Commercial Conduit Mortgage Trust II's commercial pass-through certificates, series 1996-C2, have been downgraded by Fitch Ratings.The downgrades were as follows: class F, from BB to B-plus; class G, from CCC to D; and class H, from CC to D. In addition, class E was placed on Rating Watch Negative, and the ratings on five other classes in the deal were affirmed. The downgrades were attributed to expected losses on loans in special servicing, which the rating agency said are likely to "deplete the balance of class G and severely impact class H within the next 30-60 days."
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28