Two classes from IndyMac Home Equity Mortgage Loan Asset-Backed Trust INDS 2006-A have been downgraded by Moody's Investors Service and placed on review for possible further downgrade.Class B-2 of series INDS 2006-A was downgraded from Ba1 to Caa1, and class B-3 was downgraded from Ba2 to Caa2. In addition, classes B-1, B-2, and B-3 of series INDS 2006-1 and classes M-8, M-9, and M-10 of series INDS 2006-A have been placed on review for possible downgrade. The negative rating actions were based on credit enhancement levels (including excess spread) that may be too low to maintain current rating levels in view of projected losses, Moody's said. The transaction is backed by second-lien loans.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
7h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
7h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
7h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
10h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25