Fitch Affirms JP Morgan Commercial Mortgage Finance Corp. 1997-C5; Assigns ...

NEW YORK, May 14, 2010 (BUSINESS WIRE) -- Fitch Ratings affirms, assigns Loss Severity (LS) ratings and Outlooks to J.P. Morgan Commercial Mortgage Finance Corp.'s mortgage pass-through certificates, series 1997-C5, as follows:

--Interest-only class X at 'AAA'; Outlook Stable.

--$51.7 million class F at 'A-/LS2'; Outlook Stable.

Fitch does not rate the following classes:

--$2.5 million class E;

--$36.1 million class G;

--$363 thousand class H.

In addition, classes A-1, A-2, A-3, B, C and D have paid in full.

The affirmations are warranted by the limited pay down since the last Fitch review. As of the April 2010 distribution date, the pool's aggregate certificate balance has been reduced 91% to $90.7 million from $1.03 billion at issuance. Twenty-nine loans remain in the pool.

Currently there are 12 Fitch loans of concern (17%) due to declining occupancy and/or debt service coverage ratios (DSCRs) less than 1.0 times (x). As of the April 2010 distribution date, there is one loan (1%) in special servicing. The Days Inn hotel is located in Orangeburg, SC and was transferred into special servicing in July 2009 due to imminent default. Occupancy and DSCR on the property is down owing to competition from other hotels in the market. The borrower has been approved for a forbearance plan expiring in June 2010.

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Interest Only Mortgage Refinance - News


Mortgage Rates Tick Upward: 30 Year Home Loan Mortgage Rates at 4.39% MonitorBankRates.com
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGCNFotamneS2WCMgThNvu1bFziUgamp;url=http://mortgagerates.monitorbankrates.com/mortgage-rates/mortgage-rates-tick-upward-30-year-home-loan-mortgage-rates-at-439-4988img src=http://nt0.ggpht.com/news/tbn/tJlCZJVhuuPZ_M/6.jpg alt= border=1 width=80 height=80 /br /font size=-2MonitorBankRates.com/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGCNFotamneS2WCMgThNvu1bFziUgamp;url=http://mortgagerates.monitorbankrates.com/mortgage-rates/mortgage-rates-tick-upward-30-year-home-loan-mortgage-rates-at-439-4988bbMortgage/b Rates Tick Upward: 30 Year Home Loan bMortgage/b Rates at 4.39%/b/abr /font size=-1bfont color=#6f6f6fMonitorBankRates.com/font/b/fontbr /font size=-110 year jumbo home brefinance interest/b rates are also down averaging 4.99 percent. 3 year binterest only/b adjustable bmortgage/b rates are averaging 4.08 percent, b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=dHjK-VEDVmD94DMnobrb/b/nobr/a/font/div/font/td/tr/table

Mortgage Rates Lower Again: 30 Year Mortgage Rates at 4.38%, 30 Year Jumbo ... MonitorBankRates.com
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Government to Deploy Broader Mortgage Aid Wall Street Journal
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNH1Mbick9d1E7FctOVhEtKqgSya7Aamp;url=http://online.wsj.com/article/SB20001424052748704323704575461920164400014.htmlbGovernment to Deploy Broader bMortgage/b Aid/b/abr /font size=-1bfont color=#6f6f6fWall Street Journal/font/b/fontbr /font size=-1She is worried about what happens in five years, when her quot;binterest/b-bonly/bquot; loan begins requiring much larger payments. quot;If things don#39;t improve between now b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=dBR_HNydWfLuZRMnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table

Bridgeport 2, Mortgage Rates Refinance Rates MonitorBankRates.com
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHQNiWy5uQyFLNvPbhSq18lTr-zAwamp;url=http://mortgagerates.monitorbankrates.com/california-2/bridgeport-2bBridgeport 2, bMortgage/b Rates amp; bRefinance/b Rates/b/abr /font size=-1bfont color=#6f6f6fMonitorBankRates.com/font/b/fontbr /font size=-1Your monthly bmortgage/b payment will be lower at first but can rise when bmortgage/b rates rise. Bridgeport 2, binterest only/b mortgages are mortgages that the b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?pz=1amp;ned=usamp;ncl=d9VRgpqnegp--MMnobrb/b/nobr/a/font/div/font/td/tr/table

Mortgage Rates Continue to Make Record Lows: 30 Year Mortgage Rates at 4.42 ... MonitorBankRates.com
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