A Philadelphia commercial property developer is refinancing a loan for a renovated complex, according to S&P Global Ratings.

The proposed reforms of Fannie Mae and Freddie Mac have gotten all the attention, but the administration also wants to scale back the Federal Housing Administration, expand its capital cushion and adopt risk-based pricing. Some of the ideas have former agency officials concerned.

The original $436.5 million whole-business securitization deal that closed in May 2018 has already been downgraded twice, due in large part to dueling lawsuits between ousted founder Harvey Franco and Australia-based Macquarie over the past year.

There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era.

The $428 million Progress Residential 2019-SFR4 transaction will feature eight classes of notes secured by a single loan taken out by the Maryland-based REIT.

The mortgage industry has put more emphasis on organizing data in a digital manner and presenting it in an easily digestible format.

Ratings agencies have argued recently that the population of loans whose ratings fall below the lowest single-B rating – the lowest rung above the highly speculative triple-C ratings layers – will grow significantly in an economic downturn.

The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure.

Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.

Out of 83 commercial mortgages in the transaction, the collateral pool contains 75 loans secured by multifamily/manufactured housing properties, according to presale reports.

The transaction will raise proceeds from note sales to pay off existing debt, as well as potentially provide a dividend to majority-owner Blackstone, according to a presale report from S&P Global Ratings.

With the qualified mortgage patch expiring and a recession likely, wealth inequities that have hurt black and millennial homeownership could worsen, according to the National Association of Real Estate Brokers.