Fitch Ratings has issued a correction regarding the downgrading of various class A insured notes in certain GMACCM transactions.The class A insured notes in GMACCM HealthFund I series 1999-1 and series 1999-2 have been downgraded from AAA to AA-plus. However, the class A insured notes of GMACCM Mortgage Trust I series 1999-A, 1999-B, 1999-C, 1999-D, 1999-E, 1999-F, and 1999-G have paid in full and their ratings have been withdrawn, Fitch said. The rating agency previously reported that these seven transactions had also been downgraded.
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Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
July 2 -
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
July 2 -
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
July 2 -
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
July 2 -
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
July 2 -
The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.
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