Two classes of Ace Securities Corp. series 2005-HE2 mortgage-backed securities have been downgraded by Fitch Ratings and four classes have been placed on Rating Watch Negative.Class B-1 was downgraded from BB-plus to BB, and class B-2 was downgraded from BB to BB-minus. Class M-10 was placed on Rating Watch Negative, as were classes M-9 and M-10 of series 2006-HE1 and class M-11 of series 2006-HE2. In addition, Fitch affirmed the ratings on 30 classes from three Ace Securities deals. Fitch said the negative rating actions resulted from a deteriorating relationship between loss expectations and credit enhancement. The pool consists of adjustable- and fixed-rate, first- and second-lien residential subprime mortgage loans. Fitch can be found online at http://www.fitchratings.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
4h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18