Moody's Investors Service has placed on review for possible downgrade two classes of certificates from two subprime/home equity Aegis mortgage securitizations, one from a deal issued in 2003 and another from a deal issued in 2004.Specifically, the tranches being reviewed are class B of Aegis Asset Backed Securities Trust 2003-2, which currently has a Baa2 rating; and class B3 of Aegis Asset Backed Securities Trust 2004-1, which currently has a Baa3 rating. "Credit enhancement available to the two Aegis deals has declined due to losses and stepdown, and is expected to decline further due to continued losses," Moody's said. Both deals are backed by subprime credit fixed and adjustable rate collateral, as well as small percentages of second lien mortgages, according to the rating agency.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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