The senior unsecured ratings of The Rouse Co. and Price Development Co. LP have been lowered from Baa3 to Ba1 by Moody's Investors Service, and the unsecured debt shelf rating of General Growth Properties has been lowered from (P)Ba1 to (P)Ba2.The rating outlooks are stable. The downgrades followed the announcement that the Chicago-based GGP had completed its acquisition of Rouse. Moody's attributed the downgrades to "aggressive financing of the Rouse acquisition by General Growth." The rating agency said the one-notch rating differential between the senior debt ratings of Rouse and Price Development, and those of GGP, reflect "differential financial leverage, and structural protections."
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The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
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The top five depositories have a combined wholesale volume of more than $15 billion at the end of Q4 2023.
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Among opportunities to be offered to the program's fifth class of startup entrepreneurs are bank-provided mentorships and sessions with technology leaders and regulatory experts within home finance.
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Financial advisors and tax experts say HOA fees are usually not deductible, unless the home is used for a business or as a rental property.
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The broker argues it did not break any agreement because it never signed an amendment to UWM's ultimatum in 2022.
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The racial gap in first-time buyers' ability to maintain their status as owners has also narrowed over the last two decades, the agency's researchers reported.
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