Seventeen classes of mezzanine and subordinated tranches from eight mortgage-backed securitizations issued by Credit Suisse First Boston Mortgage Securities Corp. have been placed under review for possible downgrade by Moody's Investors Service.The affected classes are as follows: series 2001-HE 8, class B; series 2001-HE 12, class M-2 and class B; series 2001-HE 16, class M-2 and class B; series 2001-HE 17, class M-2 and class B; series 2001-HE 20, class M-2 and class B; series 2001-HE 22, class M-2 and class B; series 2001-HE 25, class M-2 and class B; series 2001-HE 30, class M-2, class B, class M-F-2, and class B-F. In addition, Moody's has placed one subordinate tranche under review for possible upgrade. The pools consist of subprime, first-lien, adjustable- and fixed-rate loans. The negative actions were attributed to cumulative losses that exceeded original expectations, particularly as a result of higher-than-expected loss severities.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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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.
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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.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18