One class of notes issued by Commodore CDO I Ltd., a collateralized debt obligation, has been downgraded by Fitch Ratings.The affected security, class C, was downgraded from BBB to BBB-minus. In addition, the ratings on two other classes in the deal were affirmed. Fitch said the transaction consists of commercial mortgage-backed securities, residential MBS, CDOs, asset-backed securities, and corporate securities. The rating agency attributed the downgrade to deteriorating collateral quality. Fitch can be found on the Web at http://www.fitchratings.com.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
4h ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
5h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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May 10