Three classes from New Century 2006-S1, a second-lien mortgage-backed securities deal, have been downgraded by Fitch Ratings. The downgrades were as follows: classes A1, A-2A, and A-2B, from B to CCC/DR2. "The rating actions are based on deterioration in the relationship between credit enhancement and expected losses, and reflect continued poor loan performance and home price weakness," Fitch said.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
