Two classes of EquiFirst Mortgage Loan Trust series 2004-1 have been downgraded by Fitch Ratings.Class M-7 was downgraded from BBB-minus to BB, and class B-1 was downgraded from BB-plus to B. In addition, Fitch upgraded three classes in the transaction and affirmed the ratings on 49 classes from five EquiFirst deals. The downgrades were attributed to deterioration in the relationship between credit enhancement and loss expectations. The mortgage pools consist of first-lien, fixed- and adjustable-rate residential mortgage loans. Fitch can be found online at http://www.fitchratings.com.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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April 22