Class B-1 of Birch Real Estate CDO I Ltd., a collateralized debt obligation consisting mainly of residential mortgage-backed securities, has been downgraded from BB to B by Fitch Ratings.The ratings on five other classes of notes in the transaction were affirmed. Fitch attributed the downgrade to par coverage that has "continued to erode" due to defaulted and distressed assets. Approximately 81% of the transaction is composed of residential MBS, while commercial MBS and asset-backed securities account for approximately 12% and 7%, respectively.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
10h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
10h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
11h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25