Twenty-two classes of mortgage pass-through certificates from five First Horizon Alternative securitizations have been downgraded by Fitch Ratings.Fitch also placed one class on Rating Watch Negative, removed four classes from Rating Watch Negative, and affirmed the ratings on eight classes from the five First Horizon transactions. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and expected losses. The collateral for the deals generally consists of adjustable-rate, first-lien, fully amortizing and interest-only, alternative-A mortgage loans.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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.
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