Nine classes from four subprime, second-lien issues of GS Mortgage Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings. Fitch also placed six GSAMP classes on Rating Watch Negative, removed one classes from Rating Watch Negative, and affirmed the ratings on five classes. The downgrades were attributed to deterioration in the relationship between credit enhancements and expected losses.
Selene Finance is defending its communications to borrowers, and is arguing that plaintiffs' inquiries are too individualized for class certification.
Merging Fannie Mae and Freddie Mac may not be possible but there is a variation that maintains competition and adds efficiency, according to one shareholder.
As part of a broader expansion of its profit and loss production network, Rate is bringing former Fairway employees Vito Roppo and Nick Ferrante onboard.
Most of the A1 tranches, are expected to pay a coupon of 5.83%, except for the A-1 last-cash flow tranche, which is expected to pay 5.93%.
United Wholesale Mortgage launched a "first-of-its-kind" ChatGPT plugin that connects borrowers with independent mortgage brokers across the country.
