Two classes of Asset Backed Funding Corp. mortgage-backed securities, series 2002-SB1, have been downgraded by Fitch Ratings.Class M-3 was downgraded from BBB to BB, and class B was downgraded from CC/DR3 to C/DR4. Fitch also affirmed the ratings on several classes in the ABFC issue. The rating agency attributed the downgrades to a deterioration of credit enhancement relative to expected monthly losses.
Atlas VMS acquired CloseClear.ai to help lenders prevent post-appraisal GSE buybacks. The tech continuously matches active pipelines against live disaster maps to plug closing blind spots.
BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.
Researchers showed a message with no return address slips past Reject Direct Send. Credit unions were told to close this kind of gap in 2021.
Cyber policies must keep pace with a surge in incidents fueled by AI, as well a growing trend toward account takeovers.
Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.
