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Trust I series 1999-A, 1999-B, 1999-C, 1999-D, 1999-E, 1999-F, and 1999-G have paid in full and their ratings have been withdrawn, Fitch said.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.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
2h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
6h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
9h ago -
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.
10h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
11h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24