Two classes of notes issued by Commodore CDO II Ltd., a collateralized debt obligation, have been downgraded by Fitch Ratings.The class C notes were downgraded from AA to A, and the class C notes were downgraded from BBB to BBB-minus and removed from Rating Watch Negative. In addition, the ratings on three other classes in the deal were affirmed. Fitch said the transaction consists of residential mortgage-backed securities, asset-backed securities, commercial MBS, and other CDOs. The rating agency attributed the downgrade to "negative credit migration" and revisions to its methodology for rating CDOs.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
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A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
April 24