Bear MBS Class Downgraded

Published February 23, 2004, 3:00 p.m. EST

1 Min Read

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.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Secondary markets

IMBs need to watch HELOC securitization costs as banks enter

More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.

By Bonnie Sinnock
Capital Markets Editor

September 14
Fraud

Rising seller impersonation fraud risk a worry for lenders

Seller-impersonation attempts more than doubled in two years, with artificial intelligence providing fraudsters new tools to commit crimes, a report said.

By Spencer Lee
Technology Reporter

September 14
Originations

Preapproval key as buyers near sweet spot in a tough market

Homebuyers who are preapproved have the best opportunity to take advantage of fall discounts, giving lenders an opportunity to roll out marketing around this.

By Colin McNamara
Reporter

September 14
Secondary markets

Non-QM issuance estimates boosted due to investor demand

Bank of America upped its forecast for non-qualified mortgage issuance, with investors, particularly insurers, buying these and other non-agency securities.

By Brad Finkelstein
Originations Editor

September 14
Homeowners insurance

How New American Funding's insurance arm saves DTI-tight loans

NAF Insurance customers save $719 on average, Phil Miller, senior vice president of strategic partnerships at New American said.

By Colin McNamara
Reporter

September 14
Politics and policy

What banks can expect if Democrats sweep Congress

Polling suggests that Democrats could retake control of the House and have a formidable shot at the Senate as well. If they win both chambers, oversight of bank regulation, crypto and Trump administration officials will be the name of the game.

By Claire Williams
Reporter

September 14

Load More