Two classes of Merrill Lynch Mortgage Investors Trust series 2006-SL2 have been downgraded by Fitch Ratings.Class B1 was downgraded from BB-plus to B-plus and placed on Rating Watch Negative, and class B2 was downgraded from BB to B and placed on Rating Watch Negative. In addition, Fitch placed class M9 on Rating Watch Negative. The negative rating actions were based on a deterioration in the relationship between credit enhancement and loss expectations, Fitch said. The rating agency said the transactions are backed by fixed-rate, closed-end second-lien residential mortgages.
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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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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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