The rating on class B-1 of the Conseco-related Manufactured Housing Contract Senior/Sub Pass-Through Certificates, series 2000-6, has been lowered from B-minus to CCC-minus by Standard & Poor’s Ratings Services.The downgrade reflects an approximately $1.2 million principal writedown to the class on the December distribution date, S&P said. Citing adverse performance trends by the underlying pool of collateral and depleted credit enhancement, the rating agency said it believes the likelihood of full repayment to the class B-1 certificateholders by the final maturity date of the series is "remote." S&P can be found on the Web at http://www.standardandpoors.com.
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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.
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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