Twenty-eight classes from seven Terwin Mortgage Trust securitizations have been downgraded by Moody's Investors Service, and all but one have been placed on review for possible further downgrade.In addition, nine other classes from three of the deals have been placed on review for possible downgrade. The negative rating actions were based on the fact that credit enhancement levels (including excess spread) may be too low in view of projected losses, Moody's said. The transactions are backed by second lien loans.
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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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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.
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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.
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