Over 50 additional classes of net interest margin notes from five issuers have been downgraded by Fitch Ratings as a result of the performance of the NIM securities and changes to the rating agency's subprime loss forecasting assumptions.Fitch also affirmed the ratings on more than 20 NIM classes, and placed 11 classes on Rating Watch Negative. Among the NIM securities affected by the latest downgrades are 27 classes from 10 Greenwich Capital Soundview deals and 19 classes from eight First Franklin deals. The rating actions were attributed to the pay-down performance of the NIM securities compared with initial projections, as well as changes to Fitch's subprime loss forecasting assumptions that "better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness."
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27