Two certificates from two Delta Funding Corp. Home Equity Loan Trust transactions have been placed under review for possible downgrade by Moody's Investors Service.The affected classes are series 1998-2, class B-1A, and series 2000-3, class B. Moody's also placed six certificates from three transactions under review for possible upgrade. Moody's attributed the negative rating actions to significant losses that have eroded overcollateralization. The transactions are backed primarily by first-lien adjustable- and fixed-rate subprime mortgage loans. With the exception of the 2000-3 deal, they have been serviced by Delta Funding. Countrywide Home Loans Inc. is the servicer for the 2000-3 transaction.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25