Class B-2 of Ocwen Residential MBS Corp., series 1998-3, has been downgraded from BB to CCC by Fitch Ratings.Fitch also removed the rating on class B-1 in the same deal from Rating Watch Negative and affirmed that rating and those of two others in the transaction. The downgrade was attributed to loss levels and high delinquencies in relation to the applicable credit support.
New notices pointed out how large learning models could lead real estate businesses to unintentionally violate the Fair Housing Act in a marketing campaign.
The industry hasn't been sure how much of a lift they'd get this spring but a broader slowdown in hiring may help to lower financing costs.
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Rocket Cos. reported an increase in gain-on-sale margin but warned that going forward it is likely to slip back to levels seen in the second half of last year.
The 2022 vintage had a higher percentage of purchase mortgages, as well as 30-year fixed-rate loans versus the 2021 production, an annual Federal Housing Finance Agency report said.
