Three classes of Structured Asset Securities Corp. residential mortgage-backed certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 1999-SP1 pools 1, 2, and 3, class B, from BBB to BB-plus; series 2002-BC1, class M3, from CCC/DR2 to CC/DR2; and series 2002-HF2, class B2, from B to CC/DR2. In addition, the Distressed Recovery rating of series 2003-BC2 class B2 was changed from DR6 to DR2. Fitch also upgraded two SASCO classes and affirmed the ratings on 49 classes from 15 SASCO deals. Fitch attributed the downgrades to deterioration in the relationship between credit enhancement and expected losses.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
37m ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
56m ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
8h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
9h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
10h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18