Two tranches from CSFB Mortgage-Backed Pass-Through Certificates series 2001-11 have been downgraded by Moody's Investors Service, and two tranches have been placed under review for possible downgrade.Class C-B-3 was downgraded from A2 to Caa1, and class C-B-4 was downgraded from Ba2 to C, while classes C-B-1 and C-B-2 were placed under review. On July 25, three subordinate tranches of the deal were fully written down due to a loss on one loan, and class C-B-3 took a $4,000 writedown, Moody's reported. "Today's actions are the 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," the rating agency said.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
5h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
6h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
6h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
8h ago -
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