Two tranches of CSFB Mortgage-Backed Pass-Through Certificates, series 2001-11, have been downgraded by Moody's Investors Service.Class C-B-1 was downgraded from Aaa to Aa2, and class C-B-2 was downgraded from Aa2 to Baa2. "The pools backing these securities have a very low pool factor of less than 1%, and include only five remaining loans, one of which is delinquent and another of which is in foreclosure," the rating agency said. On July 25, three subordinate tranches were fully written down due to loss, and class C-B-4 took a $4,000 writedown. "Today's action is a result of these writedowns, and also reflects the continued threat posed by remaining delinquencies in the pool which, although substantially covered by mortgage insurance, may see further high severities," Moody's said. The rating agency can be found online at http://www.moodys.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25