Three classes of DLJ Mortgage Acceptance Corp. mortgage pass-through certificate, series 2000-1, have been downgraded by Fitch Ratings.The downgrades were as follows: class D-B3, from BBB to BB; class D-B4, from B to CC; and class D-B5, from CC to D. Fitch also affirmed the ratings on three other classes in the deal. The rating agency attributed the downgrades to loss levels and high delinquencies relative to the applicable credit support. As of the November 2003 distribution, 11.86% of the pool is over 90 days delinquent, and cumulative losses represent 0.55% of the initial pool.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
10m ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25