Class A of SARM Net Interest Margin Notes, series 2005-5, has been placed under review for possible downgrade by Moody's Investors Service.Moody's said the rating action was based on the performance of the Structured Adjustable Rate Mortgage Loan Trust 2005-5. "The transaction has experienced high prepayments, which has adversely affected the NIM by reducing the dollar amount of payments made to the A-IO2 class, which serves as collateral in this NIM transaction," the rating agency said. Moody's noted that NIM deals typically represent the securitization of excess spread, prepayment penalties, and cap payments generated by the underlying residential mortgage-backed securities.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
2h ago -
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
7h ago -
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17