Sixteen classes of Residential Accredit Loan Inc. mortgage pass-through certificates have been downgraded by Fitch Ratings, and 15 classes have been placed on Rating Watch Negative.In addition, Fitch upgraded two classes and affirmed the ratings on 76 classes from 16 RALI securitizations. The negative rating actions on 2005 and 2006 vintage deals were due to current trends in the relationship between serious delinquencies and credit enhancement, Fitch said. Downgrades in 2001 and 2003 vintage deals were attributed to high delinquencies and losses. The collateral for the deals consists primarily of 15- and 30-year fixed-rate mortgage loans extended to alternative-A borrowers, the rating agency said.
-
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
9h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
9h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
9h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
10h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25