Eight classes from two issues of CitiMortgage Alternative Loan Trust mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 2006-A4, class B-2, from A to A-minus, class B-3, from BBB to BB-plus, class B-4, from BB to B, and class B-5, from B to C/DR5; and series 2006-A6, class B-2, from A to A-minus, class B-3, from BBB to BB-plus, class B-4, from BB to B-plus, and class B-5, from B to C/DR4. Fitch also affirmed the ratings on four classes in the two transactions. The downgrades were attributed to "current trends in the relationship between serious delinquency and credit enhancement." The collateral in the deals consists of fixed-rate alternative-A 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.
April 18 -
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.
April 18 -
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