Six classes of Banc of America Funding Corp. mortgage pass-through certificates, series 2006-D, have been downgraded by Fitch Ratings.The downgrades were as follows: class 1-M-4, from A to BBB-plus; class 1-M-5, from BBB-plus to BB; class 1-M-6, from BBB-minus to B; class X-B-3, from BBB to BBB-minus; class X-B-4, from BB to B-plus; and class X-B-5, from B to C/DR4. In addition, Fitch placed classes 1-M-2, 1-M-3, 1-M-4, and 1-M-5 on Rating Watch Negative and affirmed the ratings on 15 other classes in the deal. The negative rating actions were attributed to a deterioration in the relationship between credit enhancement and loss expectations.
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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.
April 25 -
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.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
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