Class B-3 of Nomura Asset Acceptance Corp. mortgage pass-through certificates, series 2001-R1, has been downgraded from BBB to BB by Fitch Ratings.Fitch also affirmed the ratings on five other classes in the deal. The downgrade was attributed to higher-than-expected collateral losses and deterioration in the relationship between loss expectations and credit support. As of October, the pool had incurred cumulative losses of 0.22% of the original collateral balance, and approximately 27% of the remaining pool balance was 90 or more days delinquent, the rating agency reported.
-
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
38m ago -
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
7h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
9h ago -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23 -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23 -
Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23