Two large Manhattan office delinquencies fueled a double-digit increase in the overall delinquency rate in commercial mortgage-backed securities (CMBS) for September, according to Fitch Ratings. Overall, new 60-day-plus delinquencies totaled $2 billion, up from $1.69 billion in August, Fitch said. Maturity defaults accounted for half, or 51% ($1.05 billion) of new delinquencies, while the rest […]

Mortgage rates ended last week at the lowest levels in just over a month. It was the 3rd best day in over a year and the 24th best day in over 3 years. The other 23 days weren’t too much lower either. The only difference today is a microscopic improvement that makes it the 2nd

New York Court of Appeals judges’ responses to recent arguments in a closely-watched Foreclosure Abuse Prevention Act case suggest they could take a narrower view of the law’s retroactivity but are less open to broad constitutional challenges to it. Recent questions from the New York judges focused more on case details than the constitutional issues,