Class Q of LB-UBS Commercial Mortgage Trust's commercial mortgage pass-through certificates, series 2005-C2, has been downgraded from B3 to Caa1 by Fitch Ratings.The ratings on 22 other classes in the deal were affirmed. The downgrade was attributed to expected losses from four specially serviced loans and to the dispersion of loan-to-value ratios.
Properties outside of the 100-year flood zone exposed to $375 billion to $1 trillion in losses, Moodys reports
DSCR loans once allowed coverage ratios as low as 0.65, but 2023-24 vintage stress is pushing lenders toward stricter underwriting and interest-only structures.
The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.
The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.
Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
