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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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22