The first cross-border mortgage-backed securities transaction from Panama, a $149.1 million deal, has been rated by Moody's Investors Service.Moody's assigned its top Aaa global rating to variable-rate certificates issued through the Delaware-based grantor trust portion of the deal, La Hipotecaria Panamanian Mortgage Trust 2007-1. The rating agency also assigned its lower Baa2 global rating to variable-rate notes issued through a Panama-based issuer trust, Octavo Fideicomiso do Bonos de Prestamos Hipotecarios, that is part of the transaction. The grantor trust certificates are secured by ownership of the issuer trust notes and an irrevocable financial guaranty insurance policy provided by XL Capital Assurance Inc. The issuer trust notes are backed by a pool of dollar-denominated mortgages originated by La Hipotecaria S.A. in Panama. Moody's can be found online at http://www.moodys.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.
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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 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.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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