Four certificates from RAMP series 2004-KR1 Trust have been placed under review for possible downgrade by Moody's Investors Service.The affected securities are classes M-I-4, M-I-5, M-I-6, and M-II-3. The actions were based on an analysis of the credit enhancement provided by subordination, overcollateralization, and excess spread relative to the expected loss, the rating agency said. The mortgage pool includes various types of residential mortgage loans that were not eligible for inclusion in Residential Funding Corp.'s regular securitizations because they did not meet the underwriting guidelines of any of the company's conduit loan programs. Specifically, the loans were fall-outs from the prime jumbo A, alternative-A, Home Solution, and subprime programs, Moody's said.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18