Eight classes from two Residential Asset Securities Corp. home equity transactions have been downgraded by Fitch Ratings.The downgrades were as follows: RASC series 2001-KS2 group 1, class M-I-1, from AA-minus to A-minus, class M-I-2, from A-minus to BBB, and class M-I-3, from B to CC (and assigned a distressed recovery rating of DR4); RASC series 2001-KS3 group 1, class M-I-1, from AA-minus to A-minus, class M-I-2, from A-minus to BBB, and class M-I-3, from B to CCC (and assigned a distressed recovery rating of DR2); and RASC series 2001-KS3 group 2, class M-II-2, from A to BBB, and class M-II-3, from BBB to BB. Fitch also affirmed the ratings on 10 classes from the two deals. The downgrades were attributed to the "potential negative impact" of loan performance on the bonds. Fitch can be found online at http://www.fitchratings.com.
-
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
4h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
5h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
6h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
8h ago -
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
9h ago -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18