Two classes of Asset Backed Securities Corp. subprime mortgage pass-through certificates have been placed on Rating Watch Negative by Fitch Ratings.The affected securities were class M-11 of series 2006-HE2 and class M-10 of series 2006-HE4. In addition, Fitch affirmed the ratings on 55 classes in five ABSC deals. Fitch attributed the negative rating actions to a deterioration in the relationship between loss expectations and credit enhancement. The transactions consist chiefly of fixed- and adjustable-rate subprime residential mortgage loans.
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9 -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
May 9 -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9 -
The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
May 9