Fitch Ratings has announced the addition of transactions involving specialty products to its RMBS Deal Tracker, a Web-based product that identifies original collateral attributes for Fitch-rated residential mortgage-backed securities and mortgage-related asset-backed securities.The specialty-product version of the downloadable Excel-based spreadsheet will consist initially of scratch-and-dent and mixed-asset pools, but more specialty asset types will be added as data become available, Fitch said. RMBS Deal Tracker is now available for Fitch-rated subprime, manufactured housing, prime jumbo A, select alternative-A, and specialty deals, the rating agency said. Data points provided by the product include average balance, loan-to-value and FICO distributions, property type, occupancy type, documentation type, geographic distribution, and credit enhancement levels. Fitch can be found online at http://www.fitchratings.com.
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Home loan players are diverting technology budgets to cover back-office operations, after big spending in a downcycle, counter to historical patterns.
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Decreased homeowner equity corresponds to recent declining prices reported by leading housing researchers, but tappable amounts still sit near record highs.
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In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
October 22 -
Forbearance or refinancing may help some, workarounds can keep many mainstream loans moving and one type of uncertainty does have an upside for rates.
October 22 -
While the Federal Open Market Committee has yet to meet this month, investor pricing of longer-term bonds helped mortgages by 11 basis points, Wallethub said.
October 22 -
While purchase volume is up 20% from last year, it was 5% lower than one week ago, although a 4% increase in refinance activity helped pick up the slack.
October 22