Class B-2 of Morgan Stanley Dean Witter Capital I Inc. Trust series 2002-AM3 has been downgraded from B1 to Caa3 by Moody's Investors Service.The downgrade was attributed to credit enhancement levels that may be low given the projected losses on the underlying pools. "The transaction has taken significant losses, causing gradual erosion of the overcollateralization, and the most subordinate B-2 tranche is in danger of taking writedowns," Moody's said. The transaction is backed by first-lien adjustable- and fixed-rate mortgage loans originated by Aames Financial Corp.
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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