Metro Asset MBS Classes Downgraded

September 22, 2006, 2:00 p.m. EDT 1 Min Read

Two classes of Metropolitan Asset Funding Inc. II, series 1998-B, have been downgraded by Moody's Investors Service.Class B-1 was downgraded from B3 to Caa1, and class B-2 was downgraded from Ca to C. The downgrades were attributed to credit enhancement levels that are deemed low in view of projected losses on the underlying pools. The transaction consists of subprime and seller-financed first-lien fixed-rate loans.

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

TRENDING

Homebuilders

NVR profits approach $400 million

While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.

By Spencer Lee

4h ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

6h ago
Flood insurance

Flood rule aims to strike a tricky balance on FHA loan costs

Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.

By Bonnie Sinnock

11h ago

MORE FROM NATIONAL MORTGAGE NEWS

Homebuilders

NVR profits approach $400 million

While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.

By Spencer Lee

4h ago
Litigation

If Supreme Court sides with CFPB, 'flurry' of litigation moves forward

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

By Kate Berry

6h ago
Flood insurance

Flood rule aims to strike a tricky balance on FHA loan costs

Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.

By Bonnie Sinnock

11h ago
Career moves

Mr. Cooper hires chief investment officer, VP of corporate finance

The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.

By Maria Volkova

April 23
Housing markets

Capital gains taxes could keep home sellers on the sidelines

Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.

By Brad Finkelstein

April 23
Ginnie Mae

Ginnie Mae fights efforts to bring APA into Texas Capital suit

Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.

By Bonnie Sinnock

April 23