Three certificates from two IndyMac trusts have been downgraded by Moody's Investors Service.The downgrades were as follows: IndyMac Home Equity Mortgage Loan Asset-Backed Trust, series SPMD 2000-C, class MV-1, from A3 to Baa3, and class MV-2, from B2 to Caa2; and IndyMac ARM Trust mortgage pass-through certificates, series 2001-H1, class B-2, from Baa1 to Ba1. The downgrades were "based on the analysis of the credit enhancement provided by subordination, overcollateralization, and excess spread relative to expected losses," Moody's said. Collateral in the 2000 deal consists of first-lien adjustable-rate subprime mortgages, while the 2001 deal is backed by first-lien, alternative-A mortgages.
-
The RMBS notes benefit from geographic diversity and credit enhancement.
7h ago -
A Consumer Financial Protection Bureau "waives any alleged noncompliance" by the mortgage company while continuing to dole out redress to borrowers.
7h ago -
Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.
10h ago -
The chairman and regulator of Fannie Mae and Freddie Mac pointed to Jermone Powell's recent testimony about renovations to the Federal Reserve's headquarters.
10h ago -
It's a rare theft of trade secrets complaint by the industry leader, which stayed out of the spate of litigation between competitors during the refinance boom.
11h ago -
Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
July 2