Six classes of manufactured housing securitizations issued by Oakwood Homes Corp. have been downgraded by Fitch Ratings, and three classes have been placed on Rating Watch Negative. The following classes were downgraded from CCC/DR2 to CC/DR2: series 1995-A, class B-1; series 1996-A, class B-1; and series 2000-A, classes A-2, A-3, A-4, and A-5. Classes A-2, A-3, and A-4 of series 2001-B were placed on Rating Watch Negative. Fitch also affirmed the ratings on 36 classes from various Oakwood issues. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and expected losses. Fitch can be found online at http://www.fitchratings.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
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.
March 28 -
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.
March 28 -
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.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28