Two classes of Morgan Stanley Capital I Inc. commercial mortgage-backed securities pass-through certificates, series 1997-RR, have been downgraded by Fitch Ratings.Class G-1 was downgraded from B-minus to CC, and class G-2 was downgraded from B-minus to CCC. In addition, one class in the deal was upgraded and the ratings on four classes were affirmed. The downgrades were attributed to expected losses on the specially serviced loans in the underlying transactions. The certificates are secured by 40 subordinate commercial mortgage pass-through certificates from 21 separate securitizations. The underlying transactions were securitized from 1994-1997 by various issuers and are secured by a variety of property types.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
6h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
7h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
10h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16