Moody's Investors Service has placed three classes of Credit Suisse First Boston Mortgage Securities Corp. commercial mortgage pass-through certificates, series 2002-TFL1, on review for possible downgrade.The affected classes are F-WBC, G-WBC, and H-WBC. Moody's said the watchlisted certificates pertain to the Williamsburg & The Commons Loan, which is secured by two cross-collateralized and cross-defaulted garden-style apartment properties in the Cincinnati area that contain a total of 1,264 units. The rating agency reported that a default was declared on the loan on Aug. 16 due to waste, as well as the borrower's failure to comply with certain covenants and conditions. The special servicer has commenced foreclosure.
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Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
22m ago -
Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
May 6 -
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6 -
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
May 6