Four classes of mortgage pass-through certificates from American Home Mortgage Investment Trust 2006-1 group 2 have been downgraded by Fitch Ratings.The downgrades were as follows: class II-M-2, from A to A-minus; class II-M-3, from BBB to BBB-minus; class II-M-4, from BB to B (and placed on Rating Watch Negative); and class II-M-5, from B to B-minus/DR2. Fitch also affirmed the ratings on two classes in the transaction. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and loss expectations. The collateral for the deal consists of 5/1 adjustable-rate mortgage loans made to prime and alternative-A borrowers.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
6h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
7h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
8h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
10h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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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.
April 18