Five classes of Structured Asset Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings. The downgrades were as follows: class B3 of series 2001-2, from CCC/DR2 to CC/DR3; class B3 of series 2001-9, from CCC/DR2 to CC/DR3; class B5 of series 2001-16H, from CCC/DR2 to CC/DR3; class B5 of series 2002-5A, from BB to B; and class B5 of series 2002-AL1, from B to CCC/DR3. Fitch also placed two classes on Rating Watch Negative and affirmed the ratings on 83 classes from 27 SASCO transactions. The collateral consists of fixed- and adjustable-rate prime and alternative-A mortgages.
-
Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
July 7 -
The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
July 7 -
The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
July 7 -
The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
July 7 -
A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
July 7 -
The Aspire business reported $2.1 billion of lock volume, up 32% from the first quarter, but total production at the REIT fell to $8 billion from $8.5 billion.
July 7









