The residential primary servicer rating for subprime product of Accredited Home Lenders Inc. has been placed on Rating Watch Negative by Fitch Ratings.The company's primary servicer rating is RPS3-minus. (Fitch rates residential servicers on a scale of 1 to 5, with 1 being the highest rating.) Fitch said the actions reflect "the continued pressure on [Accredited Home Lenders Holding Co.'s] liquidity position in the increasingly challenged subprime mortgage market." The rating agency noted that Accredited Home Lenders Holding Co., the parent company of Accredited Home Lenders Inc., has announced a merger agreement with Lone Star Fund V (U.S.) LP.
-
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