Two classes of CWMBS (IndyMac) Inc. mortgage pass-through certificates have been downgraded by Fitch Ratings.Class B3 of CWMBS (IndyMac) 2000-F (RAST 2000-A6) mortgage pass-through certificates was downgraded from CCC to C, and class B3 of CWMBS (IndyMac) 2000-G (RAST 2000-A7) mortgage pass-through certificates was downgraded from B to CCC. In addition, Fitch upgraded eight classes and affirmed the ratings on eight other classes from five CWMBS (IndyMac) deals. Fitch attributed the downgrades to loss levels and high delinquencies in relation to the applicable credit support.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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