twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Warnings About Big Commercial Servicer

Fitch downgrades Capmark's servicer ratings

March 3, 2009

By MortgageDaily.com staff


Concern is growing over whether the nation's third biggest servicer of commercial mortgages can afford to operate -- and keep its servicing portfolio.

Fitch Ratings lowered the primary servicer rating of Capmark Finance Inc. for commercial mortgage-backed securities to CPS2- from CPS1-, a press release today said. In addition, Capmark's master servicer rating was downgraded to CMS3- from CMS1-, and its special servicer rating was cut to CSS2- from CSS1.

Fitch rates servicers on a scale of one-to-five, with one being the strongest. Plus and minus signs further differentiate the ratings.

Fitch said that Capmark's CMS3- master servicer rating is the lowest acceptable rating under the company's pooling and servicing agreements.

"A downgrade below this level would necessitate a transfer of servicing due to the advancing obligations of the master servicer," the statement said.

Fitch recently downgraded the debt of parent Capmark Financial Group.

The New York ratings agency said it is concerned about Capmark's ability to service securitized loans. Retaining adequate staff and meeting advancing obligations are among Fitch's biggest concerns.

Capmark serviced 34,040 loans for $250.8 billion as of Dec. 31, 2008. Included in its servicing portfolio were 17,659 loans for $136.6 billion from 295 CMBS. Its $49.2 billion special servicer portfolio included 150 CMBS loans for $1.1 billion being actively special serviced and 43 real estate owned properties for $0.3 billion being managed.

The Mortgage Banker Association ranked Capmark as the third biggest U.S. servicer of commercial mortgages as of Dec. 31, 2008.

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.


Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.



The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.




SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders