Two classes from a pair of Finance America Mortgage Loan Trust subprime securitizations have been placed on review for possible downgrade by Moody's Investors Service.The affected securities are class M-8 of series 2004-1 and class M-9 of series 2004-2. Moody's said the negative rating actions were taken because credit enhancement levels on the two classes may be low in view of projected losses. The transactions are backed primarily by first-lien adjustable- and fixed-rate subprime mortgage loans.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24