Six certificates of three deals issued by CWABS Asset-Backed Securities Trust have been downgraded by Moody's Investors Service.The downgrades were as follows: series 2002-BC3, class M-2, from A2 to Baa1, and class B-1, from Baa2 to B3; series 2003-BC6, class M-5, from Baa2 to Ba1, and class B, from Baa3 to Ba3; and series 2004-AB1, class M-4, from A3 to Baa3, and class B, from Baa2 to B1. The actions were based on an "analysis of the credit enhancement provided by subordination, overcollateralization, and excess spread relative to expected losses," Moody's said.
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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