Class M-7 of Bear Stearns Asset Backed Securities Inc. mortgage pass-through certificates, series 2005-1, has been downgraded from BB to B-plus by Fitch Ratings.The rating agency also affirmed the ratings on 119 classes in 22 Bear Stearns deals. Fitch attributed the downgrade to a deterioration in the relationship between credit enhancement and loss expectations.
Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.
LegalShield's foreclosure index rose 12.2% year over year in the second quarter this year. It peaked at 54.7 in May, the highest level since March 2020.
The deal has Carrington employing the fintech's AI agents at servicing contact centers to work either autonomously or as assistants to human personnel.
Three more states passed title fraud legislation this past quarter, but over two dozen states are either still mulling reforms or have no relevant statutes.
Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
The shift, which is in line with a similar one by other regulators, could be significant for mortgage businesses that work with Fannie Mae and Freddie Mac.
