Moody's Investors Service has placed on review for possible downgrade two classes of notes issued by Global Hotel One Ltd., a synthetic commercial mortgage-backed securities deal sponsored by Germany's Aareal Bank AG.The move affects the A2 rating of the 85 million euro (about $100 million) class B-1 floating-rate credit-linked notes and the A2 rating of the 5 million euro (approximately $5.9 million) class B-2 fixed/floating-rate credit-linked notes in the transaction. Moody's said the rating action "follows the review for potential downgrade of the Aa3 rating of DEPFA Deutsche Pfandbriefbank AG's ('Depfa') senior unsecured debt rating." Depfa's senior unsecured notes serve as collateral for the two affected classes in the deal, according to Moody's. The rating agency can be found online at http://www.moodys.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28