Two classes from two Access Financial Manufactured Housing Contract Trust issues have been downgraded by Fitch Ratings.Class B-1 of series 1995-1 and class B-1 of series 1996-1 were downgraded from CCC to C. In addition, one class from series 1995-1 was upgraded and the ratings on three classes from the two deals were affirmed. Losses on series 1995-1 have caused the certificates to be undercollateralized by approximately $2 million, and cumulative losses now represent 24% of the original balance, the rating agency said. Series 1996-1 has also experienced higher losses than expected, and the certificates are undercollateralized by $8.5 million, Fitch said.
-
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
1h ago -
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