Class B-4 of Bear Stearns Mortgage Securities Inc. mortgage pass-through certificates, series 1997-6 FRM pool, has been downgraded from CC to C by Fitch Ratings and its distressed recovery rating has been lowered from DR3 to DR4.In addition, three classes in another Bear Stearns deal were upgraded and the ratings on 11 classes in three transactions were affirmed. The downgrade reflects a deterioration in the relationship between the credit enhancement and expected losses, Fitch said.
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The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
2h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
4h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
9h ago -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16 -
In a motion to dismiss UWM's suit, Ramon Walker argues the trademark infringement claim made by UWM is a "pretext to muzzle [his] criticism."
April 16 -
The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.
April 16