Moody's Investors Service has placed on review for possible downgrade three certificates from two transactions issued by DLJ Mortgage Acceptance Corp.Classes B-2 and B-3 from series 1996-QJ and class B-1 from series 1996-QB "are being placed on review for downgrade based on the weak performance of the underlying loans with historical and expected cumulative losses exceeding original expectations," according to Moody’s. Moody’s can be found online at http://www.moodys.com.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
5h ago -
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.
6h ago -
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.
9h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
11h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16