Class B of Asset Backed Funding Corp. mortgage loan asset-backed certificates, series 2001-AQ1, has been downgraded from BBB to BB by Fitch Ratings.Fitch attributed the downgrade to monthly losses that have an averaged over $157,000, about $23,000 more than the average monthly excess interest. In addition, 90-day delinquencies have averaged 24.3% of the current pool balances, the rating agency said.
-
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