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 massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
3h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
7h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
10h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
11h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24