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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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
April 23