Class B1 of GE Capital home equity loan pass-through certificates, series 1997-HE2, has been downgraded from CCC to C by Fitch Ratings.Fitch also placed two classes from other transactions on Rating Watch Negative, affirmed the ratings on 26 other classes in six deals, and placed two of those 26 classes on Rating Watch Negative. The classes placed on Rating Watch Negative were class B2 of series 1999-HE1 and class B3 of series 1999-HE3. Those removed from Rating Watch Negative were the M classes of series 1996-HE4 and series 1997-HE3. Fitch attributed the negative rating actions to loss levels and high delinquencies relative to the applicable credit support. Fitch can be found online at http://www.fitchratings.com.
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2h ago -
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
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The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
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Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
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Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
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The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
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