Three classes of home equity loan pass-through certificates issued by GE Capital in 1996 and 1997 have been downgraded by Fitch Ratings.The downgrades were as follows: series 1996-HE4, class M, from A to BBB; series 1997-HE1, class M, from A to BBB; and series 1997-HE4, class B1, from CCC to CC. Fitch also upgraded two classes and affirmed the ratings on 26 other classes in 11 GE Capital deals. Fitch attributed the downgrades to the deterioration of credit enhancement relative to monthly losses that have risen or held steady.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
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The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
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After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22