Class M of Mortgage Capital Funding Inc.'s commercial mortgage pass-through certificates, series 1998-MC1, has been downgraded from CCC to B-minus by Fitch Ratings.Fitch also upgraded three classes in the deal and removed them from Rating Watch Positive, and affirmed the ratings on five other classes in the transaction. The downgrade was attributed to an increase in the number of specially serviced loans and in loss expectations.
-
Title insurers, whose activity is highly correlated to mortgage production, wrote $15.1 billion in premiums during 2023, down from $21 billion in 2022 and $26.2 billion for the year before that.
11m ago -
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
1h ago -
Both quasi-public mortgage investors have new requirements for when borrowers question valuations. Freddie Mac is expanding use of title insurance alternatives.
1h ago -
A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
2h ago -
Mark Warren and Thom Tillis have introduced the Secure Artificial Intelligence Act of 2024 to address the unique risks of AI.
3h ago -
The April 26 update came two days after the group received preliminary approval for the Sitzer/Burnett agreement.
3h ago