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.
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
8h ago -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
9h ago -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
10h ago -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
11h ago -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9 -
The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
May 9