Sixteen certificates from deals issued by SACO I Trust in 2006 have been downgraded and maintained on review for possible further downgrade by Moody's Investors Service.Moody's also placed 29 certificates from seven SACO transactions on review for possible downgrade, the rating agency said. The negative rating actions were based on the fact that the transactions "have seen recent losses that have exceeded the excess spread available, thereby depleting the overcollateralization," Moody's said. The deals are backed by closed-end second-lien loans. The rating agency can be found on the Web at http://www.moodys.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
9h 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.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
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