South Africa's ABSA Corporate and Merchant Bank has arranged the country's first commercial mortgage-backed securitization, according to Moody's Investors Service.Moody's has assigned definitive national scale ratings ranging from Aaa.za to Baa2.za to about $131.2 million worth of South African Rand-denominated securities in the transaction, Prime Realty Obligors Packaged Securities (Proprietary) Ltd.--iFour Series 1. Moody's said the ratings "address only the credit risks associated with the transaction. Other noncredit risks have not been addressed, but may have a significant effect on yield to investors." Moody's can be found online at http://www.moodys.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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