Nine classes from four IndyMac ABS Inc. home equity issues have been downgraded by Fitch Ratings.In addition, two classes have been placed on Rating Watch Negative, one class has been upgraded, the Distressed Recovery ratings on two classes have been upgraded, and the ratings on 36 other classes in six IndyMac ABS home equity deals have been affirmed. The negative rating actions were attributed to a deterioration in the relationship between credit enhancement and expected losses. The rating agency can be found online at http://www.fitchratings.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
6h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
10h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24