Three classes of Salomon Brothers Mortgage Securities VII Inc. series 2000-C2 have been downgraded by Fitch Ratings.The downgrades were as follows: class J, from BB to BB-minus; class K, from B to B-minus/DR1; and class L, from CCC/DR3 to C/DR5. In addition, three classes were upgraded and the ratings on six other classes in the deal were affirmed. Fitch attributed the downgrades to an increase in projected losses on several specially serviced loans. (Distressed Recovery ratings range from DR1, the highest, to DR6 to designate a transaction's recovery prospects.) The rating agency can be found online at http://www.fitchratings.com.
-
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
4h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
6h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
8h ago -
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
April 23 -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23