Fifteen classes from three issues of IndyMac Manufactured Housing contract pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 1997-1, classes A-2 to A-6, from AA to A, and class M, from CCC to C; series 1998-1, classes A-3 to A-5, from A to BBB-plus, and class M, from CCC to C; and series 1998-2, classes A-2 to A-4, from AA to A, class M-1, from B to CC, and class M-2, from CCC to C. The downgrades were due to continued poor performance of the underlying collateral, as well as diminishing credit enhancement, Fitch said. As of the February distribution date, the cumulative loss percentages on series 1997-1, 1998-1, and 1998-2 were 22.63%, 22.10%, and 20.01%, respectively, the rating agency said.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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