Two classes from DLJ Mortgage Acceptance Corp. mortgage pass-through certificate series 1994-3 have been downgraded by Fitch Ratings.The downgrades were as follows: class B2, from A to BBB-plus; and class B-3, from BB to B. In addition, three classes in another DLJ deal were upgraded and the ratings on 12 classes in four DLJ deals were affirmed. The rating agency attributed the downgrades to higher-than-expected levels of serious delinquencies (90 days or more).
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
