Nine classes of mortgage pass-through certificates from Quest Trust series 2006-X2 have been downgraded by Fitch Ratings. Fitch also placed another class in the deal on Rating Watch Negative, removed from Rating Watch Negative the classes previously placed there, and affirmed the ratings on two other classes.
Also, South River Mortgage appointed Tyler Plack as its next CEO, while First American Home Warranty welcomed Jason Gritters as its chief revenue officer.
A continuing resolution to fund the government through mid-December would prevent the White House from blocking grants — including some in the banking sector — to states and municipalities that voted against President Donald Trump.
Bank of America Securities research shows this sector has had its best year since at least 2017, but some trends in the market point to a need for caution.
Besides the opportunities in build-to-rent housing for mortgage originators, credit profile of single-family rental loans should improve, Morningstar DBRS said.
The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.
The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.