Two subordinate certificates issued by IndyMac ARM Trust, series 2001-H1, have been placed under review for possible downgrade by Moody's Investors Service.Classes B-2 and B-3 of the transaction were placed under review because credit enhancement levels "may be low given the current projected losses on the underlying pools," the rating agency said. Higher-than-expected losses have already resulted in a complete writedown of the two most subordinate classes, leaving class B-3 protected by only an $11,282 balance from class B-4, Moody's reported. The underlying loans consist primarily of first-lien hybrid adjustable-rate mortgage loans originated by IndyMacBank FSB. Moody's can be found on the Web at http://www.moodys.com.
-
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