Two certificates from CSFB manufactured housing pass-through certificates series 2002-MH3 have been downgraded by Moody's Investors Service.Class M-2 was downgraded from A2 to Baa2, and class B-1 was downgraded from Baa2 to Ba3. The transaction is backed by manufactured housing loans originated by CIT Group/Sales Financing Inc., and Moody's said performance has been weaker than expected. Moody's can be found online at http://www.moodys.com.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
April 23