Two classes of PPT Asset-Backed Certificates LLC Trust series 2004-1 have been downgraded by Fitch Ratings.Class B-2 was downgraded from BBB to BB-plus, and class B-3 was downgraded from BBB-minus to B. Fitch also affirmed the ratings on four other classes in the transaction. The downgrades were attributed to deterioration in the relationship between credit enhancement and loss expectations. The underlying collateral of the deal consists of fixed-rate, seasoned, small-balance mortgage loans secured by first and second liens on residential properties.
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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.
6h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
6h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
7h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18