The first securitization of nonconforming residential mortgages from the Netherlands, Eurosail-NL 2007-1 BV, has come to market, according to Moody's Investors Service.A Dutch subsidiary of Wall Street firm Lehman Brothers originated the loans, the rating agency said. The borrowers who took out the loans in the deal have current or cured delinquencies recorded with the Dutch credit bureau, have self-certified their income, or have some combination of these characteristics, according to Moody's. "Moody's believes that these products are riskier than products which do not exhibit these characteristics, and that there is some uncertainty as to how the pool would perform during an economic downturn," the rating agency said. Moody's has assigned ratings to five classes in the deal ranging from an investment-grade Aaa to a speculative-grade Ba3. Moody's can be found online at http://www.moodys.com.
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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 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25