Twenty classes from eight EMC Mortgage Loan Trust transactions have been downgraded by Fitch Ratings. Fitch also placed five EMC classes on Rating Watch Negative and affirmed the ratings on 25 other EMC classes. The negative rating actions were based on deterioration in the relationship between credit enhancement and loss expectations, Fitch said. The collateral for the EMC transactions, 10 in all, consists primarily of first- and second-lien residential mortgage loans.
With the 10-year Treasury yield hitting a 19-month high, mortgage industry executives are bracing for a tougher-than-usual end of year.
The Republican proposal would bring the CFPB under congressional appropriations and curb several of its regulatory powers.
The real-estate services firm has purchased a title search company and affiliate just months after buying the Mortgage Contracting Services division from MCS.
Workforce solutions firm 3N Performance agreed to a Washington consent order after officials found it had engaged in unlicensed processing and underwriting.
Markets are still pricing in an increase in the federal funds rate later this month, but Federal Reserve Gov. Michael Barr said his vote will depend on incoming unemployment and inflation data.
The nation's largest homebuilder is fending off accusations that it misled home buyers on their escrow estimates and saddled them with steep increases.
