Two classes of Bank of America Alternative Loan Trust mortgage pass-through certificates have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are class 15-B5 of series ALT 2004-9 pool 4 and class 15-B5 of series ALT 2004-10 pool 3. Fitch also affirmed the ratings on 324 classes from 14 BoA ALT transactions. The negative rating actions were based on a deterioration in the relationship between credit enhancement and loss expectations, Fitch said.
Jay Farner takes a majority ownership stake in Detroit's professional soccer franchise through the investment group he launched after leaving Rocket in 2023.
The major government-related secondary-market loan buyer is moving to a new approach that mortgage companies can start transitioning to later this year.
Short-sale transactions increased 4% from 2023 to 2024, nearly 10% from 2024 to 2025 and about 16% annually in the first quarter of this year, according to Realtor.com.
The 30-year fixed rate loan average is at its highest since August, while the 15-year is now above where it was one year ago, Freddie Mac found.
A one-time chief lending officer for Heritage State Bank has been barred from the industry for signing off on mortgages backed by over-valued appraisals.
Sales trends for new homes are on the upswing, another reason mortgage lenders need to keep an eye on this segment, the Mortgage Bankers Association found.
