Six classes of Merrill Lynch Mortgage Trust series 2004-KEY2 have been placed on Rating Watch Negative by Fitch Ratings. The affected securities are classes J, K, L, M, N, and P. The rating actions were attributed to potential losses from two loans in special servicing, one involving apartment buildings in Ft. Myers, Fla., and the other involving a 120-unit student housing property in Kalamazoo, Mich. Fitch can be found on the Web at http://www.fitchratings.com.
Larger public companies' high-profile servicing acquisitions tend to get the spotlight, but the two top leaders in the Ginnie MSR market are quieter players currently run as private companies.
Hometap's product provides homeowners with cash in exchange for a share of their home's future value, but the company has been faced with legal challenges claiming deceptive marketing.
Mortgage apps fell 6% as rates hit a near three-year high, but ARM share reached its highest since October 2025 and 21% of listings saw price cuts, openings for buydown pitches.
ICE announced Wednesday the launch of Residential Whole Loan Evaluations, which extends its evaluated pricing process to individual, unsecuritized loans.
The rare critique co-filed by an industry trade group suggests mandatory detention of noncitizens is contributing to a slowdown in new home construction.
A memo from Fannie Mae and Freddie Mac has separate links for each company's form to ask for the policy exception for compliance with the Nov. 2 deadline.
