Class B-1 of Fund America Investors Corp. mortgage pass-through certificates, series 1994-A, has been downgraded from A-minus to BBB-minus by Fitch Ratings.Fitch also affirmed the ratings on two other classes in the subprime transaction. The downgrade was attributed to increased credit risk caused by a low collateral balance and the small number of loans (five) remaining in the trust, which increases the volatility of the deal.
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
The current transaction has the largest collateral pool that the platform has issued from all year, with 294 loans, and it has the highest percentage of conforming loans, at 45.1%.
The USA Patriot Act passed on an overwhelming bipartisan basis in the wake of the 9/11 attacks, overhauling banks' involvement in anti-money-laundering efforts.
Rocket jumps first to raise 2027 conforming loan limits to $845,000, with Rate and CrossCountry matching; UWM's move still pending marking an early signal of IMB competitive positioning.
Sypher Capital Management announced the public launch of its new independent comparison site for bitcoin-backed loans and mortgages last week.
