Class III-M-3 of Deutsche Mortgage Securities Inc. Mortgage Loan Trust Series 2004-1 has been placed under review for possible downgrade by Moody's Investors Service.The rating action was based on the weaker-than-expected performance of the mortgage collateral and the resulting erosion of credit support, Moody's said. Overcollateralization is below its target, and pipeline losses could cause further depletion, the rating agency said. The pool is backed by first-lien, fixed-rate, alternative-A mortgage loans originated or acquired by various lenders. Moody's can be found online at http://www.moodys.com.
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KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.
March 29 -
Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
March 29 -
New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
March 29 -
Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
March 29 -
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28