Class H of Prudential Securities Secured Financing Corp.'s commercial mortgage pass-through certificates, series 1995-MCF2, has been downgraded from C to D by Fitch Ratings.In addition, the ratings on six other classes in the deal were affirmed. The downgrade was attributed to $3.6 million in losses (out of a total loss of $6.3 million) that were applied to class H at the October distribution. The loss was due to the disposition of the Mountain Creek Manor loan, which was collateralized by a health care property in Chattanooga, Tenn.
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The lender, which has fought the nonpayment accusations since 2020, will give over $3.8 million to over 200 past and current employees involved in the case.
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A dividend cut is what some feel likely to be next for UWM, in order to reduce leverage levels which are well above competitors Rocket and Pennymac
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Gen Z, whose oldest members turned just 29, represented nearly a third of all first-time home buyer loans, according to ICE's latest Mortgage Monitor report.
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The private student loan market figures to benefit from Republican-led changes to the much larger federal program. But other consumer lenders could face a fallout as more Americans are forced to reconsider which debt payments to prioritize.
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Recent signals indicate this could be on the horizon and potentially add new value to a Fannie Mae/Freddie Mac stock offering, a Seeking Alpha analyst wrote.
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Three Western states rank most unaffordable compared to income, while those in Midwest and Southern states have more leeway in their budgets for homeownership.
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