Three classes of certificates from two transactions issued by Merrill Lynch Mortgage Investors Trust in 2006 have been placed on review for possible downgrade by Moody's Investors Service.The affected securities are class B-5 of series 2006-SL1 and classes B-1 and B-2 of series 2006-SL2. "The projected pipeline loss has increased over the past few months and may affect the credit support for these certificates," Moody's said. Both transactions are backed by closed-end second-lien loans.
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Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
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The shift, which is in line with a similar one by other regulators, could be significant for mortgage businesses that work with Fannie Mae and Freddie Mac.
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Jumbo lending helped offset a decline in June's credit numbers, as government-backed programs noticeably contracted, the Mortgage Bankers Association said.
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Colorado homeowners pay the highest premiums at $463 a month, as insurance costs now exceed property taxes in 15 states, LendingTree found.
July 14 -
CPI inflation remains above the Federal Reserve's 2% target, but the slower rate of increase gives the central bank time to weigh the best course of action.
July 14 -
Movement Mortgage added to its operations leadership and Click n' Close named a new chief information officer.
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