Merrill MBS Classes Downgraded

September 13, 2007, 2:00 p.m. EDT 1 Min Read

Three classes of Merrill Lynch Mortgage Investors Inc.'s mortgage loan asset-backed certificates, series 2005-SD1, have been downgraded by Fitch Ratings.The downgrades were as follows: class M-2, from A to BBB-plus; class B-1, from BBB to BB; and class B-2, from BB to B-minus/DR2. The rating agency also affirmed the ratings on two other classes in the deal. The downgrades were attributed to a deterioration in the relationship between credit enhancement and expected losses. The transaction consists primarily of subprime mortgage loans secured by first or second liens.

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Earnings

Finance of America reports 3Q loss, nine-month profit

Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis.

By Bonnie Sinnock

November 4
Secondary markets

Fannie Mae, Freddie Mac housing goals need revisions: MBA

While FHFA reduced most of the single-family low-income goals, the MBA wants the refinance target for Fannie Mae and Freddie Mac cut as well, its letter said.

By Brad Finkelstein

November 4
Law and legal issues

Newrez faces another zombie-seconds class action filing

The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest.

By Spencer Lee

November 4
Servicing

How servicers can control costs in a tough market: Livegage

Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives.

By Bonnie Sinnock

November 4
Regulation and compliance

Gould backs charters to bring nonbanks into regulatory fold

Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.

By Ebrima Santos Sanneh

November 4
Cryptocurrency

Fed's Bowman seeks level field for banks on digital assets

Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business.

By Maria Volkova

November 4