Three classes of notes issued by Bleecker Structured Asset Funding Ltd. and Bleecker CBO Delaware Corp., and supported in part by residential and commercial mortgage-backed securities, have been downgraded by Fitch Ratings.The downgrades were as follows: class A first-priority senior secured notes, from AAA to A-minus; class B second-priority senior secured floating-rate notes, from BBB to B-minus; and class C senior subordinated fixed-rate notes, from B to C. Class C has been removed from Rating Watch Negative, while classes A and B remain there. The transaction is a collateralized bond obligation supported by asset-backed securities, RMBS, and CMBS. All the notes are due 2035. "The rating actions are a result of deterioration in the credit quality of Bleecker's collateral pool and the negative impact of its interest rate hedge," Fitch said. The rating agency can be found online at http://www.fitchratings.com.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
1h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
1h ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
9h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
10h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
11h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18