Eight certificates from four transactions issued by Bear Stearns Mortgage Funding Trust have been placed on review for possible downgrade by Moody's Investors Service.The affected securities are as follows: series 2006-SL1, classes M-6, B-1, B-2, B-3, and B-4; series 2006-SL2, class B-4; series 2006-SL3, class B-4; and series 2006-SL4, class B-4. "The projected pipeline loss has increased over the past few months and may affect the credit support for these certificates," Moody's said. The transactions are backed by second-lien loans.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18