Three classes from two Residential Accredit Loans Inc. mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: series 2003-QS23, class B-1, from BB to B and placed on Rating Watch Negative, and class B-2, from B to CC/DR4; and series 2005-QS12, class B-2, from B to C/DR4. Fitch also placed class B-1 of series 2005-QS12, class B-2 of series 2006-QS11, and classes B-1 and B-2 of series 2006-QS15 on Rating Watch Negative. In addition, Fitch affirmed the ratings on 17 classes in the four deals. The negative rating actions were attributed to a deteriorating relationship between credit enhancement and expected losses. The underlying collateral consists primarily of alternative-A, first-lien residential mortgage loans. Fitch can be found online at http://www.fitchratings.com.
-
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.
April 25 -
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.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
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