Two classes of NationsLink Funding Corp.'s commercial mortgage pass-through certificates, series 1998-1, have been downgraded by Fitch Ratings.Class G was downgraded from B-plus to B, and class H was downgraded from CC/DR4 to C/DR5. In addition, Fitch affirmed the ratings on three other classes in the deal. The downgrades were attributed to an increase in expected losses as a result of recent valuations on the specially serviced assets. "As of the November 2007 distribution date, the pool's aggregate certificate balance has been reduced 85% to $153.6 million from $1.02 billion at issuance," Fitch reported.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
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.
March 28 -
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.
March 28