Two tranches from Aames Mortgage Trust 2003-1 have been downgraded by Moody's Investors Service.Class B was downgraded from Ba1 to Caa3, and class M-6 was downgraded from Baa3 to B2. The downgrades were attributed to credit enhancement levels that "may be low" given the projected losses on the underlying pool. "Although the deal is performing within Moody's original loss expectations, credit enhancement has declined due to stepped-down enhancement levels combined with high back-ended losses," the rating agency said. The transaction consists of first- and second-lien, adjustable- and fixed-rate subprime mortgage loans.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
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