Twenty-six classes of pass-through certificates from six First Horizon mortgage transactions have been downgraded by Fitch Ratings. Fitch also placed four classes on Rating Watch Negative, removed two classes from Rating Watch Negative, and affirmed the ratings on 23 classes from eight First Horizon deals. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and loss expectations. The collateral generally consists of fixed-rate, first-lien prime mortgage loans, with some interest-only loans to alternative-A borrowers.
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3h ago -
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9 -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
May 9 -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9