Four classes of notes issued by MKP CBO I Ltd., a collateralized debt obligation partly composed of residential and commercial mortgage-backed securities, have been downgraded by Fitch Ratings.The downgrades were as follows: class A-1L, from AA-minus to A-minus; class A-2L, from BBB-minus to BB; class B-1A, from B-plus to B-minus; and class B-1L, from B-plus to B-minus. The four classes remain on Rating Watch Negative. Fitch attributed the downgrades to declining overcollateralization ratios and the "continued negative impact" of the CDO's interest rate hedge. The CDO consists of RMBS, CMBS, and commercial and consumer asset-backed securities, the rating agency said. Fitch can be found online at http://www.fitchratings.com.
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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.
May 9 -
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.
May 9 -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
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.
May 9 -
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