Class M of Lehman Brothers Inc.'s LB 2002-LLF C3 commercial mortgage pass-through certificates has been downgraded from BB to BB-minus and removed from Rating Watch Negative by Fitch Ratings.The rating agency also upgraded three classes from the deal, removed two of them from Rating Watch Negative, and affirmed the ratings on 15 others. Fitch attributed the downgrade to the deteriorating performance of the Michigan Industrial Portfolio, which represents 17.8% of the pool, and to concerns about the Boulder Portfolio (8.1%) and the Decorative Center of Houston (4.3%). Fitch can be found online at http://www.fitchratings.com.
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The rates of single parent homeownership by gender differ by 14 percentage points, even though more single women own homes than men.
1h ago -
Purchases and refinances both contributed to weekly growth, with notable increases in certain government-lending segments, the Mortgage Bankers Association said.
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McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.
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Freddie's plan "has merit," but if also used by Fannie, it might create competition for many closed-end, second liens in PL RMBS, according to new research.
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While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.
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Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.
May 7