Twenty classes from five First Franklin Mortgage Loan Trust transactions issued in 2002, 2003, and 2004 have been downgraded by Fitch Ratings.Fitch also placed three of the downgraded classes on Rating Watch Negative, removed three classes from Rating Watch Negative, and affirmed the ratings on 13 other classes in the deals. The downgrades were attributed to a deterioration in the relationship of credit enhancement to loss expectations. The collateral consists primarily of fixed- and adjustable-rate first-lien and fixed-rate second-lien subprime mortgage loans. Fitch can be found on the Web at http://www.fitchratings.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18