Three subordinate certificates from Amresco Residential Securities Corp. Mortgage Loan Trust series 1997-3 have been downgraded by Moody's Investors Service.The downgrades were as follows: class M-2F, from Baa1 to Ba1; class B-1F, from B2 to Caa3; and class B-2F, from Ca to C. The certificates are backed by 30-year fixed-rate and adjustable-rate home equity loans. The downgrades were due to credit enhancement levels that are insufficient to support the current ratings, Moody's said. "The B-2F certificates are almost completely written down, and future pipeline losses may cause the B-1F certificates to begin taking writedowns," the rating agency said.
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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.
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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