Class B-1 of Lehman ABS manufactured housing contracts, series 2001-B, has been downgraded from BBB-minus to BB by Fitch Ratings.Fitch also affirmed the ratings on nine other classes in the deal. The downgrade was prompted by high losses and delinquencies and declining credit enhancement, the rating agency said. Fitch can be found on the Web at http://www.fitchratings.com.
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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.
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.
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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.
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.
