Two classes of Structured Asset Investment Loan Trust residential mortgage-backed certificates have been downgraded by Fitch Ratings.Class B1 of series 2006-4 was downgraded from BB-plus to BB, and class B2 was downgraded from BB to B-plus. In addition, Fitch affirmed the ratings on nine classes from the SAIL transaction. The rating agency attributed the downgrades to a deterioration in the relationship between credit enhancement and expected losses. The pools consist primarily of fixed- and adjustable-rate, fully amortizing and balloon, first- and second-lien residential mortgage loans.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25