Class B of First Union Home Equity Loan Series 1997-2 has been downgraded from BB-minus to CCC by Fitch Ratings.The rating action was attributed to the poor performance of the underlying collateral in the deal. Losses have been higher than expected and have resulted in the depletion of overcollateralization, Fitch said. The rating agency can be found online at http://www.fitchratings.com.
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
