Three classes of Structured Asset Securities Corp. mortgage pass-through securities have been placed on Rating Watch Negative by Fitch Ratings.The affected classes are as follows: SASCO series 2002-10H, class B5; SASCO series 2002-22H, group 1, class B5-I; and SASCO series 2002-22H, group 2, class B5-II. Fitch also affirmed the ratings on 22 other classes in those series and two others. The Rating Watch placements were attributed to loss expectations and high delinquencies relative to the applicable credit support.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
7h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
11h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24