Two classes of Access Financial Manufactured Housing series 1996-1 have been downgraded by Fitch Ratings.Class B-1 was downgraded from BBB-minus to BB-minus, and class B-2 was downgraded from CCC to C, Fitch said. In addition, the ratings on two other classes in the deal were affirmed, as were the ratings on three classes of series 1995-1. The actions were attributed to losses and the level of delinquencies relative to the applicable credit support.
Christopher J. Gallo, formerly of NJ Lenders Corp., generated billions of dollars in loan volume over a five-year stretch that prosecutors scrutinized.
The Wall Street Journal reported federal whistleblower allegations exist, citing unnamed sources and viewed documents, but the firm said it has seen no proof.
The homebuilder's net income for the second quarter was half of what it was a year ago but a seasonal lift improved results relative to the first quarter.
Fintech GoodLeap is buying homeowner relationships for renovation loans with rewards and originators competing on rate alone may be behind.
The mortgage technology unit of Intercontinental Exchange reported a return to profitability in the second quarter, as revenues continued their recent rise.
The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.
