Two classes of Residential Accredit Loan Inc. mortgage pass-through certificates have been downgraded by Fitch Ratings.Class B-2 of series 2004-QS6 was downgraded from B to C/DR4, and class B-2 of series 2004-QS9 was downgraded from B to C/DR4. In addition, Fitch upgraded nine classes in three RALI transactions and affirmed the ratings on 160 classes in 36 RALI deals. Fitch attributed the downgrades to high delinquencies and losses. The loans in the securitizations consist of 15- and 30-year fixed-rate mortgages extended to prime and alternative-A borrowers, primarily on one- to four-family residential properties. Fitch can be found online at http://www.fitchratings.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
8h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18