The $456.9 million LCCM 2017-FLI is secured by 19 commercial mortgages, the largest of them an amended and restated loan on Two Gateway, an office building in downtown Newark, New Jersey.
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New Residential Investment Corp. may seek to accelerate the process of transferring more than $100 billion in mortgage servicing rights it agreed to buy from Ocwen for $400 million.
October 31
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A GAO determination has effectively nullified a 2013 leveraged lending guidance. But that leaves the future uncertain about what, if anything, regulators will devise to replace it — and how banks should treat such loans in the meantime.
October 31
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The delinquency rate for U.S. commercial real estate loans in CMBS is now 5.21%, a decrease of 19 basis points from the September level, according to Trepp. That is the second-largest rate drop measured in the last 19 months.
October 31
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Initial credit enhancement on the senior notes to be issued has risen to 17.5% from 16.8% for the lender's previous securitization, but the target level is unchanged at 30%.
October 30
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In addition to insurance premiums, borrowers in the pool use the loans for annual membership fees of sport or leisure facilities or professional bodies.
October 30
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Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.
October 30
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Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.
October 30
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The two investment firms recently obtained $1.1 billion in loans from Goldman Sachs and Deutsche Bank to purchase a 48.7% stake in the property from New York REIT, which previously owned 98.8%.
October 30
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Commercial and multifamily originations are projected to surpass the 2007 market peak this year, according to the Mortgage Bankers Association.
October 27
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Fitch expects cumulative net losses to reach 15% over the life of the deal ... half that of other RPL issuers.
October 27
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The Dallas consumer lender says it plans to boost subprime originations again after retooling its portfolio and taking stock of the economy.
October 27
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The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.
October 27
