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Trust I series 1999-A, 1999-B, 1999-C, 1999-D, 1999-E, 1999-F, and 1999-G have paid in full and their ratings have been withdrawn, Fitch said.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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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
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May 9