Fitch Downgrades More Subprime Classes

Published April 29, 2008, 1:00 p.m. EDT

1 Min Read

More than two hundred additional classes of subprime mortgage-backed securities were downgraded by Fitch Ratings on April 28. Fitch also affirmed the ratings on classes with outstanding balances of approximately $9 billion. Among the securities affected by the latest downgrades were: 74 classes from 16 issues by CSFB Home Equity Asset Trust; 35 classes from 11 issues by Countrywide (CWABS); 26 classes from nine issues by Option One Mortgage Loan Trust; 26 classes from 10 issues by Long Beach; 22 classes from six issues by Securitized Asset Backed Receivables; 20 classes from four issues by Finance America Mortgage Loan Trust; and 10 classes from four issues by EquiFirst Mortgage Loan Trust. Fitch can be found online at http://www.fitchratings.com.

Processing Content

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

MORE FROM NATIONAL MORTGAGE NEWS

Career advancement

Rocket names Redfin CEO, Veterans United adds to c-suite

Also, South River Mortgage appointed Tyler Plack as its next CEO, while First American Home Warranty welcomed Jason Gritters as its chief revenue officer.

By Colin McNamara
Reporter

7h ago
Politics and policy

House to vote on short-term government funding bill

A continuing resolution to fund the government through mid-December would prevent the White House from blocking grants — including some in the banking sector — to states and municipalities that voted against President Donald Trump.

By Claire Williams
Reporter

8h ago
Non-QM

Non-QM securitization record signals secondary market shift

Bank of America Securities research shows this sector has had its best year since at least 2017, but some trends in the market point to a need for caution.

By Bonnie Sinnock
Capital Markets Editor

8h ago
Secondary markets

How ROAD Act rental limits create lender opportunities

Besides the opportunities in build-to-rent housing for mortgage originators, credit profile of single-family rental loans should improve, Morningstar DBRS said.

By Brad Finkelstein
Originations Editor

10h ago
Cyber Security

Lennar lawsuits point to rising cyber liabilities for lenders

The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.

By Spencer Lee
Technology Reporter

August 28
M&A

Real REMAX strategy shift threatens independent originators

The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.

By Colin McNamara
Reporter

August 28

Load More