Twenty-nine classes from 10 Credit Suisse First Boston Home Equity Asset Trust transactions have been downgraded by Fitch Ratings.In addition, the ratings on 97 classes from 18 CSFB HEAT transactions have been affirmed. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The rating agency said the collateral backing the transactions consists of first- and second-lien fixed- and adjustable-rate subprime mortgage loans. The rating agency can be found online at http://www.fitchratings.com.
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The national delinquency rate rose 15 basis points to 3.5% last month due to a calendar anomaly, marking a 4.5% month-over-month incline and 9.4% annual change.
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ICE launched a fraud detection tool for underwriters, Newrez partnered with Matic and Rate announced a free home equity monitoring tool this month.
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Nearly one-third of states now have official nonbank standards for liquidity, capital and corporate governance that firms over a certain threshold must meet.
2h ago -
KBW now rates UWM as outperform, and BTIG calls the stock a buy, but both cite high leverage levels and industry macro trends depressing its stock price.
3h ago -
If approved, the deal can provide relief for the approximately 662,000 individuals affected by an incident at the mortgage vendor last November.
4h ago -
Properties outside of the 100-year flood zone exposed to $375 billion to $1 trillion in losses, Moodys reports
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