Two classes from Credit Based Asset Servicing and Securitization LLC series 2006-SL1 have been downgraded by Fitch Ratings and placed on Rating Watch Negative, and three other classes have also been placed on Rating Watch Negative.Class B-4 was downgraded from BBB-minus to BB-minus, and class B-5 was downgraded from BB-plus to B. They were placed on Rating Watch Negative, along with classes B-1, B-2, and B-3. Fitch also affirmed the ratings on nine classes from the C-BASS deal. The negative rating actions reflect a deterioration in the relationship between credit enhancement and loss expectations, the rating agency said. The collateral consists mainly of second-lien residential mortgage loans extended to subprime borrowers, Fitch said.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
7h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
7h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
8h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
10h ago -
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