Deal Name: Series 1997-D5

March 3, 2004 Commercial Real Estate Direct Staff ReportLaSalle Bank has filed a motion for partial summary judgment in the case against Nomura Securities over a securitized loan on a now-shuttered hospital in Chicago.LaSalle, in its motion, which was filed ...

February 12, 2004 Commercial Real Estate Direct Staff ReportOrix Capital Markets has taken its case to the Web.The Dallas company, which is special servicer for Asset Securitization Corp., 1997-D5, this afternoon hosted an Web cast that ran for roughly one ...

February 2, 2004 Orix Capital Markets, special servicer of Asset Securitization Corp., 1997-D5, has scheduled a conference call via the Internet to discuss issues investors might have with its handling of the transaction.The Dallas company inherited a lawsuit that seeks ...

The Dallas company says Fitch's threatened downgrade of its special servicing rating is inappropriate because it doesn't fully understand the lawsuit it filed to force the buyback of a troubled loan in a 1997 CMBS deal.

The rating agency has warned that it might downgrade Orix Capital Markets' special servicer rating a notch or two because of its reliance on costly litigation to resolve certain troubled loans. That practice, it said, puts CMBS holders at increased ...

LaSalle Bank has filed suit seeking a judgment that Nomura had breached its representations and warranties obligations when it sold a portfolio of mortgages through the CMBS market in 1997. The suit is the latest to claim that some loans ...

September 8, 2003 Standard & Poor's has downgraded six classes of Asset Securitization Corp., 1997-D5, because of interest shortfalls that it expects will hit the deal as a result of servicer advances that have been deemed nonrecoverable.The rating agency has ...

September 8, 2003 GMAC Commercial Mortgage Corp., the master servicer of Asset Securitization Corp., 1997-D5, has decided to recoup over several months the $6.4 million of nonrecoverable advances it has made against one of the deal's collateral loans.As a result, ...

September 5, 2003 Moody's Investors Service has downgraded the $87.7 million class A-2 of Asset Securitization Corp., 1997-D5, to Baa3 from A1 because of interest shortfalls stemming from non-recoverable advances made against a large collateral loan. The rating agency said ...

September 2, 2003 Fitch Ratings has downgraded six classes of Asset Securitization Corp., 1997-D5, because of expected losses from certain collateral loans.The rating agency downgraded the deal's:– $39.5 million class A-5 to double-B from triple-B;– $43.9 million class A-6 to ...