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.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
5h ago -
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.
6h ago -
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.
6h ago -
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.
7h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
7h ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
9h ago