Two classes from CDC Mortgage Capital Trust mortgage pass-through certificates, series 2002-HE3, have been downgraded by Fitch Ratings and two classes from other transactions have been placed on Rating Watch Negative.The downgrades were as follows: class B1, from BB-minus to B-plus; and class B2, from B-plus to C. Class B2 was also assigned a distressed recovery rating of DR6. The securities placed on watch were class B3 of series 2003-HE3 and class B3 of series 2003-HE4. In addition, Fitch affirmed the ratings on 14 classes from the three CDC deals. The rating agency attributed the downgrades to a deterioration in the relationship between credit enhancement and expected losses. The pools consist of fixed- and adjustable-rate subprime mortgages for one- to four-family residential properties.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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