Two classes of Morgan Stanley Capital I Inc.'s commercial mortgage pass-through certificates, series 1999-LIFE 1, have been downgraded by Fitch Ratings.Class N was downgraded from CC/DR4 to C/DR6, and class M was downgraded from B to B-/DR2. Fitch also upgraded three classes from the transaction and affirmed the ratings on nine other classes. The downgrades were attributed to possible losses from the specially serviced loan, which is secured by a 55,000-square-foot office property in Charlotte, N.C. "The loan was transferred to the special servicer due to imminent default and is now 60+ days delinquent," Fitch reported.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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