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.
Counter to prevailing narratives about rules and enforcement activity whipsawing from one administration to the next, public citations by federal banking regulators have steadily declined over the past decade — under both Democratic and Republican administrations.
Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
