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.
Lenders are still frequent targets of the class action complaints over unwanted mortgage solicitations, violations that have netted litigants big paydays.
Cities in two southern states dominate the list for real estate, affordability, and quality of life, according to WalletHub.
Jay Farner takes a majority ownership stake in Detroit's professional soccer franchise through the investment group he launched after leaving Rocket in 2023.
The major government-related secondary-market loan buyer is moving to a new approach that mortgage companies can start transitioning to later this year.
Short-sale transactions increased 4% from 2023 to 2024, nearly 10% from 2024 to 2025 and about 16% annually in the first quarter of this year, according to Realtor.com.
The 30-year fixed rate loan average is at its highest since August, while the 15-year is now above where it was one year ago, Freddie Mac found.
