Class I-B-3 of Homebanc Mortgage Trust 2007-1 has been downgraded from Baa2 to Ba1 by Moody's Investors Service. The downgrade was based on higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels. The collateral consists primarily of first-lien, fixed- and adjustable-rate alternative-A mortgage loans.
Mega investors, the smallest segment of non-owner occupied single family homebuyers, were responsible for one-quarter of the unit drop in second quarter sales.
The company will begin direct-lending operations in its home state of California, before expanding across the U.S. over coming quarters, its executives said.
Developments at Freddie Mac, Fannie Mae and factory-built housing innovator Boxabl point to some expanded ways to make mortgages or HELOCs.
President Donald Trump Wednesday signed a continuing resolution to fund the government through December, averting a government shutdown at least until after November's elections.
The 30-year FRM, as tracked by Freddie Mac, rose to a level last reached in July 2025, helped by the 10-year Treasury briefly topping the 4.8% ceiling.
Rocket has seen more brokers move from United Wholesale Mortgage to its wholesale channel in the last 90 days than the previous 12 months combined, Chief Revenue Officer Austin Niemiec said.
