Four certificates from three transactions issued by CHL's Alternative Loan Trust in 2004 have been downgraded by Moody's Investors Service, and one certificate has been placed under review for possible downgrade.The downgrades were as follows: series 2004-6CB, class M-2, from A2 to Baa3; series 2004-6CB, class M-3, from Baa2 to B3; series 2004-8CB, class M-3, from Baa2 to Baa3; and series 2004-J5, class B, from Baa2 to Ba1. Class B of series 2004-J13 was placed under review for possible downgrade. The four classes were downgraded "because the current credit enhancement provided by subordination, overcollateralization, and excess spread is low compared to the projected pipeline losses of the underlying pool," Moody's said, while the watchlist placement was attributed to "the growing pipeline and higher-than-expected losses." All the deals are backed by first-lien alternative-A mortgage loans originated or acquired by Countrywide Home Loans Inc.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
9m 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.
33m 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.
41m ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
3h 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