Class M-2 of Delta Funding Corp.'s series 2000-4 mortgage-backed securities transaction has been downgraded from BB to B by Fitch Ratings.Fitch also affirmed the ratings on two other classes in the deal. The downgrade was attributed to higher-than-expected loss levels that have depleted the overcollateralization in the deal to zero.
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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.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
April 23