Class B4 of CWMBS (Countrywide Home Loans Inc.) mortgage pass-through certificates, series 1999-6 (Alt 1999-1), has been downgraded from B to CCC by Fitch Ratings and removed from Rating Watch Negative.In addition, Fitch has affirmed the ratings on 17 other CWMBS classes and removed the B4 classes of series 2001-21 (Alt 2001-10) and series 2002-13 (Alt 2002-8) from Rating Watch Negative. The downgrade was attributed to losses incurred and the level of nonperforming loans in relation to the applicable credit support.
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Meanwhile, MISMO has updated its guide to incorporate the updated scores for use with mortgage insurers and VantageScore Solutions rolls out a new model, 5.0.
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The real estate investment trust struggled with legacy assets and its bottom line, but sees a path forward with non-QM, third-party originations and AI.
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While U.S. home values fell in real terms for the 12th consecutive month, voices say slow inventory growth has flipped the script away from the south and towards east metros.
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The Congressional Budget Office's latest read on loan and guarantee costs points to the risks and value of government-sponsored enterprises in conservatorship.
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The mortgage unit of Rithm Capital anticipates annual savings from its upcoming move to the Valon servicing platform to approach $65 million.
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Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.
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