Two classes of Finance America Mortgage Loan Trust 2004-2 mortgage pass-through certificates have been downgraded by Fitch Ratings.Class M-8 has been downgraded from BBB-minus to BB, and class M-9 has been downgraded from BB-minus to B. Fitch also affirmed the ratings on seven other classes in the transaction. The rating agency attributed the downgrade to a deterioration in the relationship between credit enhancement and loss expectations. The collateral consists of fixed- and adjustable-rate residential mortgage loans secured by first and second liens.
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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.
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 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25