An affiliate of Fitch Ratings plans to release a version of the 2003 model the company uses to set credit enhancement levels for securitized, residential mortgages in the first quarter of next year.Among the things the model takes into account are regional home price bubbles and performance statistics that show alternative-A credits have a better and different performance record than B&C credits, Fitch analysts said at a meeting in New York. Fitch has been using this model to set credit enhancement levels since about the end of the first quarter of this year, said Sarbashis Ghosh, senior director in Fitch's structured finance residential mortgage area. The Nov. 5 meeting was its first public discussion of the model's underlying statistics, he said. Fitch Ratings can be found online 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.
6h ago -
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