Ten classes from six Renaissance Home Equity Loan Trust securitizations have been downgraded by Fitch Ratings.In addition, the ratings on 52 other classes from 11 transactions were affirmed. Fitch attributed the downgrades to a deterioration in the relationship between credit enhancement and expected losses. The transactions are backed by fixed- and adjustable-rate subprime mortgage loans.
Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.
Two online ads promise Fannie Mae and Freddie Mac are working to boost purchase applications but it's unclear whether they signal interest in a stock offering.
Weak refi demand is pushing lenders to lean on servicing income, as tighter execution spreads and higher MSR values shift the industry's sell/retain calculus
Chad Smith departs the lender in a transition phase, after helping Better to generate 2.5 times growth in total revenue and funded loan volume since 2024.
The Federal Housing Finance Agency has barred 51 people from working with Fannie Mae and Freddie Mac this year, the most suspensions in any calendar year.
