Five classes of CWMBS (Countrywide Home Loans) Inc. residential mortgage-backed certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 2000-4 (Alt 2000-1), class B3, from B-minus to CCC; series 2001-3 (Alt 2001-2), class B3, from BB to B and removed from Rating Watch Negative, and class B4, from B to C and removed from Rating Watch Negative; and series 2001-8 (Alt 2001-5), class B-3, from BB to B and removed from Rating Watch Negative, and class B4, from CC to C. In addition, class B2 of series 2000-4 (Alt 2000-1) was placed on Rating Watch Negative, five other classes were upgraded, and the ratings on 12 others were affirmed. The rating agency said the actions stemmed from loss levels and loss expectations relative to the applicable credit support. Fitch can be found online at http://www.fitchratings.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25