The class A-1 floating-rate notes of Ballantyne Re PLC, which holds "significant" amounts of subprime residential asset- and mortgage-backed securities, has been downgraded from BB to B-plus and placed on Rating Watch Negative by Fitch Ratings. Fitch also placed the class B-1 subordinated notes and class B-2 subordinated floating-rate notes on Rating Watch Negative. The actions were attributed to "Fitch's heightened concern about subprime and alt-A ABS/RMBS."
With the 10-year Treasury yield hitting a 19-month high, mortgage industry executives are bracing for a tougher-than-usual end of year.
The Republican proposal would bring the CFPB under congressional appropriations and curb several of its regulatory powers.
The real-estate services firm has purchased a title search company and affiliate just months after buying the Mortgage Contracting Services division from MCS.
Workforce solutions firm 3N Performance agreed to a Washington consent order after officials found it had engaged in unlicensed processing and underwriting.
Markets are still pricing in an increase in the federal funds rate later this month, but Federal Reserve Gov. Michael Barr said his vote will depend on incoming unemployment and inflation data.
The nation's largest homebuilder is fending off accusations that it misled home buyers on their escrow estimates and saddled them with steep increases.
