Four classes of Securitized Asset Backed Receivables LLC 2005-FR1 have been placed on Rating Watch Negative by Fitch Ratings.The affected securities were classes B-1, B-2, B-3, and B-4. In addition, Fitch affirmed the ratings on three other classes in the deal. Fitch said the securities were placed on watch pending receipt of additional performance information that could affect the ratings. The collateral in the transaction consists of subprime residential loans secured by first- and second-lien deeds of trust on residential properties, the rating agency said.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
10h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
11h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16