Standard & Poor's Rating Services, New York, has affirmed its Strong rating on Midland Loan Services Inc., a servicer, master servicer, and special servicer of commercial mortgages.The rating agency said the affirmation "reflects Midland's extensive track record of handling high volume of CMBS and other portfolio types with excellent procedures, demonstrated expertise, and appropriate controls." In another action, S&P assigned preliminary credit ratings to the class A and class B floating-rate notes to be issued by Vindex S.r.l., a special-purpose entity. The notes will be backed by a pool of residential and commercial nonperforming and performing loans originated in Italy. S&P can be found on the Web at http://www.standardandpoors.com.
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Fannie Mae and Freddie Mac are under directives to make mortgage-backed securities purchases that can exert downward pressure on rates or limit increases.
2h ago -
The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking for the Community Reinvestment Act that would tailor requirements for smaller institutions and monitor which groups receive community development grants.
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Christopher J. Gallo, formerly of NJ Lenders Corp., generated billions of dollars in loan volume over a five-year stretch that prosecutors scrutinized.
July 30 -
The Wall Street Journal reported federal whistleblower allegations exist, citing unnamed sources and viewed documents, but the firm said it has seen no proof.
July 30 -
The homebuilder's net income for the second quarter was half of what it was a year ago but a seasonal lift improved results relative to the first quarter.
July 30 -
Fintech GoodLeap is buying homeowner relationships for renovation loans with rewards and originators competing on rate alone may be behind.
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