Two classes of MESA 2002-1 Global Issuance Co. have been downgraded by Moody's Investors Service.Class B-1 of the deal was downgraded from Baa2 to Ba1, and class B-2 was downgraded from Ba2 to B3. In addition, Moody's confirmed the rating on one certificate in the deal. The downgrades were based on "the weak performance of the underlying security as well as the reduced level of credit enhancement provided by the overcollateralization and the subordinated classes relative to the current projected losses," the rating agency said. The transaction is a resecuritization backed by another residential mortgage-backed security.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18