Four tranches from two Countrywide securitizations have been placed under review for possible downgrade by Moody's Investors Service.The affected classes are as follows: Reperforming Loan REMIC Trust 2003-R2, classes B-3 and B-4, and CWMBS Series 2003-R3, classes B-3 and B-4. The review is based on the fact that the collateral has experienced higher-than-expected losses. "The effect of such losses has been that unrated subordinate tranches have experienced writedowns which have reduced the credit enhancement available to rated tranches which rely on subordination for protection," Moody's said. The underlying collateral consists of reperforming loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
-
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
35m ago -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
4h ago -
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17