Class B-2 of Conseco Home Equity 2002-B has been downgraded from B-plus to B-minus/DR1 by Fitch Ratings.Fitch also affirmed the ratings on four other classes in the transaction. The downgrade was attributed to a deteriorating relationship between credit enhancement and expected losses. The collateral for the deal consists of closed-end, first- and second-lien mortgage loans.
New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink.
Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack.
United Wholesale Mortgage lost ground to RKT in one category but held onto a healthy lead in another, an analysis of Home Mortgage Disclosure Act data shows.
HECM endorsements rose 16% in March to 2,117 loans, but monthly volumes remain near their slowest pace since last summer as proprietary reverse products quietly steal market share.
Which parties are responsible for the surge persisted as a source of debate as community lenders released updated survey data reflecting their average expense.
The 30-year fixed rate climbed to 6.46% this week, its highest mark since September, as mortgage applications fell 10.4% and sellers outnumber buyers by a record 46%.
