Two classes from two Citigroup Mortgage Loan Trust transactions have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are class M-12 of series 2005-HE4 and class M-13 of series 2005-OPT4. Fitch also upgraded 12 classes from two Citi transactions and affirmed the ratings on 124 classes in 11 transactions. The negative rating actions reflect increased pressure on the credit enhancement available to offset losses, the rating agency said.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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May 10