Nineteen classes from four GSAMP Trust securitizations have been downgraded by Moody's Investors Service, and 21 classes (including eight of those downgraded) have been placed on review for possible downgrade.The negative rating actions stemmed from the fact that credit enhancement levels are low given the projected losses on the underlying pool, Moody's said. The transactions consist of subprime second-lien fixed-rate loans. The primary originators were Fremont Investment & Loans, IndyMac Bank FSB, Long Beach Mortgage Co., and New Century Mortgage Co.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25