Two classes of Morgan Stanley Capital I Inc. commercial mortgage pass-through certificates, series 1999-FNV1, have been downgraded by Fitch Ratings. Class K was downgraded from B to B-minus/DR1, and class L was downgraded from CCC/DR3 to CC/DR4. Fitch also affirmed the ratings on 10 other classes in the transaction. The rating agency said the deal contains two specially serviced assets.
The Federal Reserve's preferred measure of inflation came in lower for August than it had in earlier months, but a recent methodology change raises questions about the strength of the signal.
New York Life's investment arm is buying a majority stake in Verus' parent, as higher rates draw insurers to non-QM. Lenders should expect deeper-pocketed buyers and competition.
The agreement expands the top-5 bank servicer's relationship with the technology company, claiming it brings its full portfolio to the MSP platform.
The typical mortgage company is well behind the average fintech, insurance company and bank in terms of AI development and maturity, according to a new survey.
Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
DRB Group is partnering with Acrisure Mortgage and Alta Home Lending to start two mortgage joint ventures set to open in January 2027, the company announced.
