Class E of Merrill Lynch Mortgage Investors Inc. mortgage pass-through certificates, series 1998-C1-CTL, has been downgraded from Ba3 to B1 by Moody's Investors Service.One other class was upgraded, and the ratings on six other classes in the deal were affirmed. The downgrade reflects "concerns about the credit of Rite Aid Corp.," Moody's said. The certificates are collateralized by 99 credit tenant lease loans backed by 16 corporate credits, the rating agency said. Moody's can be found online at http://www.moodys.com.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
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A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
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An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.
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But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
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Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
April 22