Class M4 (the most subordinate class) of Ameriquest Mortgage Securities Inc., series 2002-3, has been placed under review for possible downgrade by Moody's Investors Service.The review was prompted by credit enhancement levels that were deemed low in view of projected losses on the underlying pool, Moody's said. "The transaction has taken losses, and pipeline loss could cause eventual erosion of the overcollateralization," the rating agency said. Moody's also placed under review for possible upgrade 27 certificates from 11 Ameriquest deals originated by backed by first lien adjustable- and fixed-rate subprime mortgage loans. Moody's can be found online at http://www.moodys.com.
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The Office of the Comptroller of Currency said it will no longer include examinations for disparate impact liability but will still perform fair lending risk assessments on a regular basis.
5h ago -
The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
6h ago -
Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
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Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
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While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
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Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
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