Class M5 of Asset Backed Securities Corp. mortgage pass-through certificates, series 2003-HE3, has been downgraded from BBB-minus to BB by Fitch Ratings.In addition, Fitch placed the following four ABSC classes on Rating Watch Negative: series 2003-HE2, class M-5; series 2004-HE6, classes M6 and M7; and series 2004-HE8, class M7. Fitch also affirmed the ratings on 184 other classes in 24 ABSC deals. The rating agency attributed the downgrade to a deterioration in the relationship between loss expectations and credit support levels. The watchlist placements were due to "signs of increasing credit risk, posing a potential threat to subordinate bonds," Fitch 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