Eleven classes of Securitized Asset Backed Receivables mortgage pass-through certificates have been downgraded by Fitch Ratings. The downgrades came in SABR series 2004-DO1 and series 2004-NC3. Fitch also placed two of the downgraded classes on Rating Watch Negative and affirmed the ratings on three classes in the deals. The downgrades were attributed to the release of overcollateralization and principal payments to the subordinate classes, which have put pressure on the capital structure for both series. The collateral consists primarily of first-lien subprime mortgage loans.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
3h ago -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
3h ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
11h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18