Class L of Salomon Brothers Mortgage Securities VII Inc. commercial mortgage pass-through certificates, series 1999-C1, has been downgraded from B-minus/DR1 to CCC/DR2 by Fitch Ratings.Fitch also affirmed the ratings on 11 other classes in the transaction. Fitch said the downgrade was based on expected losses on the pool's two specially serviced assets: a real-estate-owned office property in Rogers, Ark., and two mobile home parks in Wilkes Barre and Muncey, Pa.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
10m ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
2h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
2h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18