Class B-4 of Bear Stearns Mortgage Securities Inc. mortgage pass-through certificates, series 1997-6 FRM, has been downgraded from CCC to C by Fitch Ratings.The rating agency also upgraded two classes in the deal and affirmed the ratings on three other classes in the FRM and ARM segments of the transaction. The downgrade was attributed to credit enhancement levels relative to loss expectations. Fitch can be found on the Web at http://www.fitchratings.com.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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