Class M of Lehman Brothers Floating Rate Commercial Mortgage Trust, series 2006-CCL C2, has been downgraded from Baa3 to Ba2 by Moody's Investors Service, and the ratings of classes K, L, and M have been placed on review for possible downgrade.In addition, Moody's upgraded three classes and affirmed the ratings on 12 other classes in the deal. The negative rating actions were attributed to the poor performance of the Old Salem, The Crossings at Otay Ranch, and the Walker Square & Riverbend loans. The certificates are collateralized by 12 senior participation interests secured by 14 properties.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24