Class B2 of DLJ Mortgage Acceptance Corp. residential mortgage pass-through certificate series 1996-QJ has been downgraded from BBB-plus to BB-plus by Fitch Ratings.Fitch also upgraded one class in each of two other DLJ deals and affirmed the ratings on 12 classes in eight DLJ deals. The rating agency attributed the downgrade to a deterioration of credit enhancement relative to consistent or rising monthly losses.
The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
ICE data reveals home value growth hit a 15-month high, prompting originators to target resilient markets like upstate New York and pivot focus toward single-family inventory.
The company reported a nearly $600,000 loss as it navigates the loss of Rithm-related business and pushes for a more diversified revenue model.
Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.
