Three classes in two Conseco Finance home equity transactions have been downgraded by Fitch Ratings.The downgrades were as follows: Conseco Home Equity 2001-D, class B-2, from CC/DR3 to C/DR5; and Conseco Home Equity 2002-B, class B-1, from BBB-plus to BBB, and class B-2, from BB-plus to B-plus. Fitch also upgraded one class and affirmed the ratings on over 40 classes in various Conseco/Green Tree Finance home equity and home improvement deals. The rating agency said the downgrades stem from a deteriorating relationship between credit enhancement and expected losses.
-
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
6h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
7h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
10h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16