Class B of Asset Backed Funding Corp. mortgage-backed securities series 2002-SB1 has been downgraded from B to CCC by Fitch Ratings, and class M-3 has been placed on Rating Watch Negative.Fitch also upgraded six classes from two ABFC issues and affirmed the ratings on 45 classes from 10 issues. The rating agency attributed the negative rating actions to a deterioration of credit enhancement relative to monthly losses. Fitch can be found online at http://www.fitchratings.com.
ICE data reveals home value growth hit a 15-month high, prompting originators to target resilient markets like upstate New York and pivot focus toward single-family inventory.
The company reported a nearly $600,000 loss as it navigates the loss of Rithm-related business and pushes for a more diversified revenue model.
Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.
Sentiment towards the presence of the structures backing AI development varies by generation, but a growing number of buyers are raising questions, Redfin says.
Chase edged out Rocket for the top spot in the annual mortgage servicer customer satisfaction survey, with depositories in seven of the top 10 spots.
