Seven classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2001-FL2, are being reviewed for possible downgrade by Moody's Investors Service.The affected certificates are classes G, H, J, K, L, M, and N. The actions stemmed from interest shortfalls caused by the Main Street 200/300 Office Building Loan and expected losses on the liquidation of the San Tomas Business Park Loan, the rating agency said. "As of the June 2004 distribution date, the master servicer will no longer advance principal and interest on the Main Street Loan, which is expected to cause interest shortfalls on classes J, K, L, M and N," Moody's said.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
2h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
4h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
4h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
6h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
7h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18