Class B of Bear Stearns Global Issuance series 2001-A, a resecuritization of the class B certificate from Bear Stearns Asset Home Loan Owner Trust series 2001-A, has been downgraded from BB to CCC by Fitch Ratings.The underlying trust is collateralized by subordinate-lien loans with high loan-to-value ratios that were originated by Conseco Finance Corp. and are serviced by Conseco. The rating agency attributed the downgrade to the depletion of overcollateralization and a reduction in the excess spread of the underlying trust's mortgage pool due to poor loan performance.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
5h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
6h ago -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23 -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23 -
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23 -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23