Five classes from three GE Capital home equity loan pass-through certificate deals have been downgraded by Fitch Ratings.The downgrades were as follows: series 1997-HE3, class M, from AA to A, and class B1, from CC/DR4 to C/DR4; series 1999-HE1, class B1, from A to BBB, and class B2, from CC/DR3 to C/DR3; and series 1999-HE3, class B3 from CC/DR4 to C/DR3. In addition, Fitch affirmed 19 classes from seven GE Capital transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and monthly losses. The loans consist of 15- to 30-year closed-end home equity mortgage loans secured by residential properties. Fitch can be found online at http://www.fitchratings.com.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
5h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
6h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
6h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
6h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
7h ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
8h ago