Twenty-four classes from 19 Oakwood Homes manufactured housing transactions have been downgraded by Fitch Ratings.In addition, the rating agency affirmed 40 other classes in the deals. Fitch attributed the downgrades to the poor performance of the manufactured housing pools. "High default or repo levels combined with elevated loss severities have typically exhausted once-available overcollateralization and, in many cases, have resulted in the significant or entire writedown of the most subordinate class of bond," Fitch said. "As a result, other junior and/or mezzanine classes are now threatened by, if not already experiencing, writedowns due to such losses." The rating agency can be found online at http://www.fitchratings.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18