Nine classes of GS Mortgage Securities GSR mortgage pass-through certificates have been downgraded by Fitch Ratings. Fitch also removed three classes from Rating Watch Negative and affirmed the ratings on 17 classes from several GS securitizations. The downgrades were attributed to deterioration in the relationship between credit enhancement and loss expectations.
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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