GMAC Commercial Mortgage, which was hit with a $40 million jury verdict when the borrower of a securitized mortgage disputed the way it handled a $7.9 million mortgage on a troubled property, has reached a settlement with the borrower. That ...
Standard & Poor's has again downgraded three classes of Bear Stearns Commercial Mortgage Securities Inc., 2001-TOP2. The rating agency last downgraded the three classes in June because of interest shortfalls stemming from a lawsuit related to a collateral loan.Those shortfalls ...
June 23, 2005 A California court has sided with the jury that ordered GMAC Commercial, as servicer of a loan securitized in Bear Stearns Commercial Mortgage Securities Inc., 2001-TOP 2, to pay nearly $40 million to the loan's borrower.The statement ...
A San Francisco jury has ordered GMAC Commercial to pay more than $40 million to the owner of a Silicon Valley property that served as collateral for an $8 million loan. The property's owner charged GMAC with unfair business practices.
June 7, 2005 Standard & Poor's has downgraded three classes of Bear Stearns Commercial Mortgage Securities Inc., 2001-TOP2, because of interest shortfalls stemming from a lawsuit related to a collateral loan.The possibility that shortfalls will continue for several months prompted ...
December 2, 2004Commercial Real Estate Direct Staff ReportCollateral mortgages in CMBS conduit deals issued under the TOP shelf perform better than those in other deals, according to an analysis by Banc of America Securities' CMBS research unit.But better performance might ...
November 29, 2004Standard & Poor's has downgraded two classes of Bear Stearns Commercial Mortgage Securities Inc., 2001-TOP2, because of losses from loans in special servicing and interest shortfalls. The rating agency downgraded the deal's: – $6.3 million class H to ...
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