Fourteen tranches of mortgage-backed securities issued by CSFB Adjustable Rate Mortgage Trust in 2004 and 2005 have been downgraded by Moody's Investors Service, and seven tranches have been placed on review for possible downgrade.Moody's also downgraded six tranches of CSFB Home Equity Pass-Through Certificates, series 2005-1, which is backed by first-lien subprime mortgage loans. The actions were based on an analysis of the credit enhancement levels provided by excess spread, overcollateralization, and subordinate classes relative to expected losses, Moody's said. The collateral for the tranches issued by CSFB Adjustable Rate Mortgage Trust consists of first-lien alternative-A mortgage loans.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
2h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18