Moody's Investors Service has downgraded one class from a transaction issued by Credit Suisse First Boston Mortgage in 2002 and placed one class from another deal under review for possible downgrade.Class B-F of Credit Suisse First Boston Mortgage Acceptance Corp. series 2002-HE4 was downgraded from B1 to Caa3, and class B-1 of Credit Suisse First Boston Mortgage Securities Corp. series 2002-HE11 was placed under review for possible downgrade. The actions were attributed to credit enhancement levels, including excess spread, that were deemed low in view of projected losses. The pools are backed by subprime, first-lien, fixed- and adjustable-rate loans. The rating agency can be found online at http://www.moodys.com.
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AD Mortgage sent a letter to the FHFA explaining the importance of the limited review process in facilitating access to conventional condo financing.
July 17 -
With margins remaining compressed, Bill Cosgrove sees mortgage industry consolidation continuing in the near future, and Union Home will be a player.
July 17 -
The large nonbank mortgage company is replacing a multibillion-dollar facility it took out last year before the Mr. Cooper and Redfin deals closed.
July 17 -
Cities in two southern states dominate the list for real estate, affordability, and quality of life, according to WalletHub.
July 17 -
Lenders are still frequent targets of the class action complaints over unwanted mortgage solicitations, violations that have netted litigants big paydays.
July 17 -
Jay Farner takes a majority ownership stake in Detroit's professional soccer franchise through the investment group he launched after leaving Rocket in 2023.
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