Two classes of mortgage pass-through certificates in Mortgage Asset Securitization Transactions Asset Back Securities Trust deals have been downgraded by Fitch Ratings.Class M-6 of series 2002-OPT1 was downgraded from BBB-minus to BB-minus, and class M-6 of series 2003-WMC2 was downgraded from BBB-minus to BB-plus. Fitch also placed classes M-10 and M-11 of series 2005-NC2 on Rating Watch Negative and affirmed the ratings on 22 classes in three MASTR ABS securitizations. The rating agency attributed the downgrades to deterioration in the relationship between credit enhancement and loss expectations. Fitch said the collateral backing the transactions consists primarily of first- and second-lien fixed- and adjustable-rate subprime mortgage loans.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
10h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
11h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
11h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28