Class B of Industry Mortgage Corp. home equity loan pass-through certificates, series 1998-1, has been downgraded from CCC to C by Fitch Ratings.The rating agency also affirmed the ratings on 17 other classes from four IMC HEL transactions. The downgrade was attributed to poor collateral performance. "Class B is experiencing monthly writedown as a result of monthly loan losses," Fitch said.
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
