Class B3 of series 2001-2 of Structured Asset Securities Corp. residential mortgage-backed certificates has been downgraded from B to C by Fitch Ratings.In addition, the ratings on seven classes from two SASCO deals were affirmed. "The downgrade is the result of Fitch's observation of continuing high monthly pool losses and delinquency levels," the rating agency said. July 25 remittance information indicates that 13.53% of the pool was over 90 days delinquent and cumulative losses totaled 0.99% of the original pool balance, according to Fitch. The collateral consists of conventional, fixed-rate, fully amortizing residential mortgage loans extended to prime and alternative-A borrowers.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25