Class B-1 of Metropolitan Mortgage series 2000-B has been downgraded from B to CCC by Fitch Ratings.In addition, Fitch affirmed the ratings on four other classes in the deal. The rating agency attributed the downgrade to poor collateral performance and the deterioration of asset quality "beyond original expectations."
Meanwhile, MISMO has updated its guide to incorporate the updated scores for use with mortgage insurers and VantageScore Solutions rolls out a new model, 5.0.
The real estate investment trust struggled with legacy assets and its bottom line, but sees a path forward with non-QM, third-party originations and AI.
While U.S. home values fell in real terms for the 12th consecutive month, voices say slow inventory growth has flipped the script away from the south and towards east metros.
The Congressional Budget Office's latest read on loan and guarantee costs points to the risks and value of government-sponsored enterprises in conservatorship.
The mortgage unit of Rithm Capital anticipates annual savings from its upcoming move to the Valon servicing platform to approach $65 million.
Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.
