Six classes from three Associates Manufactured Housing Contract Trust pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 1996-1, classes B-1 and B-2, from AA-plus to AA; series 1997-1, classes B-1 and B-2, from AA-plus to AA; and series 1997-2, classes B-1 and B-2, from AA-plus to AA. Fitch also affirmed the ratings on six classes from four Associates transactions. The downgrades were attributed to the downgrade from AA-plus to AA of the corporate rating of Citigroup, which acquired Associates First Capital Corp. in 2000. The ratings of the downgraded classes depend on a limited guarantee from Associates.
-
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
49m ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
1h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
6h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
7h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
10h ago -
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
April 23