Class M-II-3 of Residential Asset Mortgage Products Inc. Trust series 2003-RS7 has been placed on review for possible downgrade by Moody's Investors Service.The negative rating action was attributed to credit enhancement levels that are deemed to be low given the projected losses on the underlying pools. "The pool of mortgages has seen losses in recent months, and future loss could cause a more significant erosion of the overcollateralization," Moody's said. The transaction consists of a fixed-rate pool and an adjustable-rate pool containing mortgages that are not eligible for inclusion in Residential Funding Co. loan program securitizations because they do not satisfy the program guidelines, the rating agency said.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
1h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
2h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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