Seventeen tranches from five Equifirst Mortgage Loan Trust transactions closed in 2003 and 2004 have been downgraded by Moody's Investors Service.The downgrades were based on the fact that the bonds' credit enhancement levels, including excess spread, were too low in view of projected losses. All the transactions are backed primarily by fixed- and adjustable-rate first-lien subprime mortgage loans. Moody's can be found on the Web at http://www.moodys.com.
The Request for Information follows Pres. Trump's March 13 executive order, "Promoting Access to Mortgage Credit," the Bureau said.
Community lenders, mortgage bankers and homeowners associations want more time to gear up for certain changes but officials see reasons to stay on track.
Retail lender Rate separately launched yet another non-mortgage brand, with outdoor saunas and other furnishings following a high-end performance wear line.
June purchase demand strengthened, refinances remained steady and pull-through improved, reversing May losses.
The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
