Two certificates from the C-BASS 2002-CB6 Trust subprime mortgage securitization have been downgraded by Moody's Investors Service.Class B-2 was downgraded from Baa3 to Ba2, and class B-3 was downgraded from Ba1 to Caa2. The downgrades were based on a decrease in available credit enhancement, Moody's said. The rating agency attributed the decline to an increase in losses and a reduction in subordination resulting from the passing of performance triggers and a stepdown in overcollateralization. The underlying assets in the transaction consist of subprime residential mortgage loans.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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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.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18