Three classes of Morgan Stanley Dean Witter Capital I Trust commercial mortgage pass-through certificates, series 2001-TOP3, have been downgraded by Moody's Investors Service.The downgrades were as follows: class J, from Ba3 to B1; class L, from B2 to B3; and class M, from B3 to Caa1. Moody's also affirmed the ratings on 12 other classes in the deal. The downgrades were attributed to poorer performance by two shadow-rated loans and to loan-to-value ratio dispersion. The pool consists of three shadow-rated loans, representing 13.3% of the pool, and a conduit component. Based on Moody's analysis, 12.6% of the conduit pool has an LTV greater than 100%, compared with 1.7% at securitization.
-
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
1h ago -
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9 -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
May 9 -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9