Three classes of mortgage-backed securities from various transactions aggregated by Lehman Brothers Inc. have been downgraded by Moody's Investors Service.The downgrades were as follows: Structured Asset Securities Corp. series 2001-BC1, class M1, from Aa2 to A3, class M2, from A2 to Baa3, and class M3, from Baa2 to Baa3. In addition, Moody's upgraded 45 classes, confirmed the ratings on two classes, placed six classes on watch for possible upgrade, and withdrew the ratings on eight classes following their redemption. The downgrades were prompted by credit enhancement levels that are low in view of projected losses on the underlying pools, Moody's said.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23