Two classes of notes issued by Silver Marlin CDO I Ltd., a structured finance collateralized debt obligation consisting predominantly of residential mortgage-backed securities, have been placed on Rating Watch Negative by Fitch Ratings.The affected notes were classes D and E. The negative rating actions were based on a deterioration in collateral quality, the rating agency said. Fitch said 18.6% of the portfolio consists of 2006 vintage subprime RMBS collateral and 10.9% consists of prime RMBS collateral, and its exposure to 2007 vintage RMBS totals 8.5% subprime RMBS and 20.5% prime RMBS. The rating agency can be found on the Web at http://www.fitchratings.com.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
26m ago -
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
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