Two classes of Amortizing Residential Collateral mortgage pass-through certificates have been downgraded by Fitch Ratings.Class M1 of series 2001-BC5 was downgraded from BB-plus to CCC/DR2, and class M9 of series 2004-1 was downgraded from BB-plus to CCC/DR1. In addition, class M8 of series 2004-1 was placed on Rating Watch Negative, and the ratings on nine other classes in the two transactions were affirmed. The negative rating actions reflect deterioration in the relationship between credit enhancement and expected losses, Fitch said.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
1h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
2h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
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.
April 18 -
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