Meanwhile, three other classes of GS Mortgage Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades in series 2005-SEA1 were as follows: class B-1, from BBB-plus to BB; class B-2, from BBB to B; and class B-3, from BBB-minus to CC/DR3. Fitch also placed class M-2 on Rating Watch Negative and affirmed the ratings on several other classes. Fitch said the downgrades were based on a deterioration in the relationship between credit enhancement and loss expectations. The collateral for the deal consists primarily of first- and second-lien residential mortgage loans.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
3h ago -
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
4h ago -
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.
5h ago -
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.
5h ago -
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.
7h ago -
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May 10