Two classes of Asset-Backed Securities Corp. Long Beach Home Equity Trust mortgage pass-through certificates have been downgraded by Fitch Ratings.Class M2V of series 2000-LB1 group 2 was downgraded from BB-plus to BB, and class BV was downgraded from CC/DR4 to C/DR5. In addition, Fitch affirmed the ratings on five classes of group 1 in the transaction. The rating agency attributed the downgrades to continued deterioration in the relationship between credit enhancement and loss expectations. The subprime mortgage loans underlying the transaction were acquired by ABSC from Long Beach Mortgage. Fitch can be found online at http://www.fitchratings.com.
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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.
10h ago -
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.
11h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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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