Class IV-M-5 of American Home Mortgage Investment Trust series 2006-2 has been placed on review for possible downgrade by Moody's Investors Service.The action was based on the fact that the bonds' credit enhancement levels (including excess spread) may be too low in view of projected losses, Moody's said. The transaction is backed by fixed-rate second-lien loans.
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
