Class M-3 of Residential Accredit Loans Inc., series 2004-QA2, has been downgraded from Baa2 to Ba1 by Moody's Investors Service.The downgrade was attributed to "relatively low" credit enhancement levels in light of expected losses. "The excess spread has significantly declined due to the high percentage of hybrid collateral. .... As a result, the deteriorating overcollateralization amount is causing the subordinate tranches to be more vulnerable to defaults. The underlying collateral consists of alternative-A, first-lien, adjustable-rate residential mortgage loans. The rating agency 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.
6h ago -
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.
7h ago -
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.
April 18 -
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