In a series of related actions, Fitch Ratings has placed 38 classes from five first-loss collateralized debt obligations and ReREMICs on Rating Watch Negative.The affected securities were 14 classes from Ansonia CDO 2006-1 Ltd. and Ansonia CDO 2006-1 LLC, nine classes from G-Force 2005-RR2 LLC, eight classes from ARCap 2005-RR5 Resecuritization Inc., five classes from G-Force CDO 2006-1 Ltd./Corp., and two classes from ACT 2005-RR Depositor Corp. The negative rating actions were attributed to an analysis of loans in special servicing. Fitch said the collateral for the CDOs and Re-REMICs consists of "a high concentration of tranches with the least seniority" within a commercial mortgage-backed security transaction, and therefore the tranches are the first to absorb losses.
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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.
April 19 -
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.
April 19 -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
April 19 -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
April 19 -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
April 19 -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18