Three classes from Salomon Brothers Mortgage Securities VII Inc., series 2000-C2, have been downgraded by Fitch Ratings.The downgrades were as follows: class L, from B to B-minus; class M, from CCC to CC; and class N, from CC to C. The downgrades were attributed to an increase in expected losses on several specially serviced loans. The certificates are collateralized by 178 fixed-rate mortgage loans, consisting primarily of office (37%), retail (22%), and industrial (18%) properties. Fitch can be found online at http://www.fitchratings.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25