A fixed rate mortgage has the same payment for the entire term of the loan. An Adjustable Rate Mortgage ARM has a rate that can change, causing your monthly payment to increase or decrease. Use this tool to compare a fixed rate mortgage to two types of ARMs, a Fully...
NEW YORK -- Fitch Ratings affirms CT Investment Management Co., LLC's CTIMCO special servicer rating at 'CSS2-'. The rating is based on the extensive real estate experience of the company's management and staff as well as the staff's ability to manage and resolve non-performing assets securing commercial mortgage-backed securities CMBS....
Company intends to complete its Exchange Offer and Consent Solicitation on September 2, 2008 SANTA FE, N.M. -- Thornburg Mortgage, Inc. (NYSE:TMA), announced today that it is extending the expiration of its exchange offer and consent solicitation (the "Exchange Offer") for all outstanding shares of its 8.00% Series...
WASHINGTON AFP — US mortgage finance giants Fannie Mae and Freddie Mac saw their share prices plummet Wednesday amid heightened concerns about their ability to ride out the credit crisis without government help. The two mortgage giants, which prop up a large part of the US mortgage market,...
NEW YORK -- Fitch Ratings downgrades and withdraws its rating on Enhanced Mortgage Backed Securities Fund IV Limited EMBS IV as follows: --$130,000,000 class A-1 notes paid in full; --$14,000,000 class A-2 notes to 'C/DR4' from 'B'; --$20,000,000 class A-3 notes to 'C/DR6' from...
NEW YORK -- Fitch downgrades and removes from Rating Watch Negative seven classes of notes issued by Bluegrass ABS CDO III, Ltd. Bluegrass III. The following rating actions are effective immediately: --$162,865,123 class A-1 notes to 'BB' from 'BBB'; --$49,000,000 class A-2 notes to 'CCC' from...
NEW YORK -- Investor concerns over rating stability in U.S. RMBS have led to a renewed interest in resecuritization to provide additional credit protection. The structural features of these resecuritizations, or 'Re-REMICs', greatly influences the degree of additional protection provided, according to Fitch Ratings in a new report. ...
A RumourED imminent rally in the housing market has failed to materialise, as the latest round of bleak housing market data confirms, despite attempts by estate agents to inject a positive note. Mortgage lending will contract by almost 20 per cent this year, reflecting the market uncertainty,...
NEW YORK -- Fitch Ratings upgrades Prudential Securities Secured Financing Corp.'s Prudential commercial mortgage pass-through certificates, series 1999-NRF1, as follows: -- $25.5 million class G to 'AA-' from 'A+'; -- $9.3 million class H to 'A' from 'A-'; -- $9.3 million class J to...
NEW YORK -- Fitch Ratings affirms Morgan Stanley Capital I Inc., commercial mortgage pass-through certificates, series 1999-RM1, as follows: --$43.1 million class A-2 at 'AAA'; --Interest-only class X at 'AAA'; --$43 million class B at 'AAA'; --$45.1 million class C at 'AAA';...
NEW YORK -- Fitch Ratings upgrades Mortgage Capital Funding, Inc.'s MCF commercial mortgage pass-through certificates, series 1998-MC2, as follows: --$37.9 million class E to 'AAA' from 'AA'; --$12.6 million class F to 'AAA' from 'A'; --$25.2 million class G to 'A+' from 'BBB-'; ...
ATLANTA -- Post Properties, Inc. (NYSE: PPS) announced today the sale of its Post Oglethorpe[R] apartment community located in Atlanta, GA for a gross sales price of approximately $38.5 million. Post Oglethorpe[R] is a garden-style apartment community located in the Brookhaven area of Atlanta and consists of 250 units with...
NEW YORK -- Fitch Ratings upgrades Credit Suisse First Boston CSFB commercial mortgage securities 2003-C5 as follows: --$31.5 million class D to 'AAA' from 'AA-'; --$17.3 million class E to 'AA' from 'A+'; --$17.3 million class F to 'A+' from 'A-'; --$14.2...
NEW YORK -- Fitch Ratings upgrades TIAA CMBS I Trust's commercial mortgage pass-through certificates, series 2001-C1, as follows: --$33 million class H to 'AAA' from 'AA+'; --$14.7 million class J to 'AA' from 'A+'; --$11 million class K to 'A' from 'BBB+'; ...
MONTERREY, Mexico & NEW YORK -- Fitch has taken various rating actions on Mexican mortgage company Metrofinanciera, S.A. de C.V. Metro. Its Individual rating was downgraded to 'D/E' from 'D', given continued pressures on its capital adequacy, asset quality, liquidity and refinancing needs. In view of increasing support mechanisms from...
NEW YORK -- Fitch Ratings has upgraded GS Mortgage Securities Corp. II's commercial mortgage pass-through certificates, series 1998-C1, as follows: -- $23.3 million class G to 'BBB' from 'BBB-'. Fitch has also affirmed the following classes: -- Interest-only class X at 'AAA'; ...
CHICAGO -- Fitch Ratings upgrades Morgan Stanley Capital I, Inc.'s commercial mortgage pass-through certificates, series 1997-C1 as follows: --$1.6 million class H to 'AAA' from 'A+'. In addition, Fitch affirms the following certificates: --Interest only class IO-1 at 'AAA'; The $20.4 million...
The Federal Reserve Board has pushed short-term interest rates lower, but the credit crunch is raising borrowing costs for corporations and home buyers. The Fed has nudged its key overnight federal funds rates down to 2% from 5.25% a year ago to stimulate the economy. Yields on Treasury...
CHICAGO -- Fitch Ratings places one class of CD Commercial Mortgage Trust, series 2007-CD4, commercial mortgage pass-through certificates on Rating Watch Negative as follows: --$16.5 million class N 'BB-'. Fitch does not rate classes O, P, Q or S. The rating watch negative placement...
Articles 2008-08-18
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