Class B-1 notes issued by Eastman Hill Funding I Ltd., a collateralized debt obligation partly composed of residential mortgage-backed securities, has been downgraded from B to CCC by Fitch Ratings.In addition, the ratings on four other classes were affirmed. Fitch said the deal is failing its coverage ratio tests as follows: overcollateralization has declined to 108.7%, below the trigger level of 109.0%, and its interest coverage ratio of 81.1% falls far short of the trigger of 115.0%. RMBS represent 30% of the transaction, the rating agency said. Fitch can be found on the Web at http://www.fitchratings.com.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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.
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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