Four classes of Bear Stearns Asset Backed Securities Inc., series 1999-1, have been downgraded by Fitch Ratings.The downgrades were as follows: class MF-1, from AA-plus to AA-minus; class MF-2, from A-plus to BBB-plus; class BF, from BB-minus to CCC; and class BV, from BB to B-plus. Fitch attributed the downgrades to high delinquencies and deteriorating credit support. The securitization is backed by fixed-rate and adjustable-rate subprime mortgage loans.
Rocket jumps first to raise 2027 conforming loan limits to $845,000, with Rate and CrossCountry matching; UWM's move still pending marking an early signal of IMB competitive positioning.
Sypher Capital Management announced the public launch of its new independent comparison site for bitcoin-backed loans and mortgages last week.
Consumer advocacy group Better Markets filed a lawsuit in federal district court Thursday claiming the Federal Reserve's top regulator coached bankers on how to comment on proposed capital rules in "secret meetings."
From higher immediate pricing to long-term impacts on the housing market, originators are assessing what the rise in the 10-year Treasury yield means.
Atlas VMS acquired CloseClear.ai to help lenders prevent post-appraisal GSE buybacks. The tech continuously matches active pipelines against live disaster maps to plug closing blind spots.
BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.
