Eleven certificates issued by Home Equity Loan Trust 2007-FRE1 have been downgraded by Moody's Investors Service. Three of the downgraded certificates will remain on review for possible further downgrade. The downgrades were based, in general, on higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels, Moody's said.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
