Ten classes of mortgage-backed securities issued by RAMP have been downgraded by Moody's Investors Service.The affected transactions were the series 2004-KR1 and series 2004-KR2 trusts. The downgrades were driven by credit enhancement levels that may be low given the projected losses on the underlying pools, Moody's said. The rating agency can be found online at http://www.moodys.com.
The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
The Rithm subsidiary plans to reduce its involvement in decentralized operations through an agreement with the American Pacific Mortgage affiliate.
A week after falling to its lowest point since mid-May, the 30-year fixed rate mortgage turned higher as the 10-year Treasury rose 15 basis points since June.
Realtor.com's latest forecast projects prices will grow 1.2% in 2026, lower than its original estimate of 2.2% and well below the current pace of inflation.
A new class action lawsuit accuses the banking giant of failing to lower borrowers' interest rates following a series of Federal Reserve rate cuts.
