Fitch Downgrades EquiFirst MBS Classes

Published October 26, 2007, 2:00 p.m. EDT

1 Min Read

Three classes from two EquiFirst Mortgage Loan Trust securitizations have been downgraded by Fitch Ratings.The downgrades were as follows: EquiFirst 2003-1, class M-3, from BBB to B; and EquiFirst 2003-2, class M6, from BBB-minus to BB-plus, and class B1, from BB-plus to BB-minus. In addition, Fitch affirmed the ratings on nine classes from the two deals. The downgrades were attributed to deterioration in the relationship between credit enhancement and loss expectations. The mortgage pools consist of first-lien, fixed- and adjustable-rate residential mortgage loans.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Better.com

Ex-Better CEO lays out plan to reach $2 billion in volume

Along with a 25% increase in production, Vishal Garg's scheme aims for monthly revenue growth of $7 million and a reduction of cash burn from $4 million to $0.

By Colin McNamara
Reporter

September 4
FHFA

Pulte: 'cartel-like' bureaus should cut costs, eyes bi-merge

The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.

By Bonnie Sinnock
Capital Markets Editor

September 4
Mortgage brokers

Newrez to expand joint venture network with eXp Realty

eXp World Holdings, the parent company of eXp Realty, and Kind Lending ended their mortgage joint venture, Success Lending, it was reported Wednesday.

By Colin McNamara
Reporter

September 4
Economy

Labor market rebounds, but all eyes are on inflation for Fed

The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.

By Kyle Campbell
Staff writer

September 4
Appraisals

Waivers, AUS are lenders' hedge against any UAD 3.6 crunch

As UAD 3.6's Nov. 2 mandate shrinks an aging appraiser pool, AnnieMac and Lower lean on AUS waivers and in-house teams to dodge 2022-style fee spikes and turn-time delays.

By Colin McNamara
Reporter

September 4
Housing markets

Cotality: mega investors retreated pre-ROAD act

Mega investors, the smallest segment of non-owner occupied single family homebuyers, were responsible for one-quarter of the unit drop in second quarter sales.

By Brad Finkelstein
Originations Editor

September 3

Load More