The CAM1 structured finance rating of C-BASS Investment Management LLC, an asset manager of collateralized debt obligations, has been placed on Rating Watch Negative by Derivative Fitch.Fitch said the rating action stemmed from the recent announcement by Radian Group Inc. and MGIC Investment Corp. regarding "liquidity challenges" faced by CIM's parent company, Credit-Based Asset Servicing and Securitization LLC. Fitch rates CDO asset managers by asset class on a scale of 1 to 5, with 1 being the highest rating. Derivative Fitch Inc., a subsidiary of Fitch Ratings Ltd., can be found on the Web at http://www.derivativefitch.com.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
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A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
April 22 -
An insurance-indexed debt-to-income ratio could help mitigate borrowers' rising premiums, and help maintain a healthy servicing portfolio, experts said.
April 22 -
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
April 22 -
Industry leaders expressed a high degree of satisfaction with technology in use, but also said a product's cost is the most important criteria for them when partnering with vendors, according to Fannie Mae research.
April 22