Four classes of mortgage pass-through certificates from Structured Asset Investment Loan series 2003-BC 2 have been downgraded by Fitch Ratings.The downgrades were as follows: class M-1, from A to BBB-minus (and placed on Rating Watch Negative); class M-2, from BBB-plus to B-minus/DR1; class M-3, from BBB-plus to B-minus/DR1; and class B, from BBB-minus to B-minus/DR2. Fitch also affirmed the triple-A rating of class A. The negative rating actions were based on deterioration in the relationship between credit enhancement and expected losses, the rating agency said.
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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.
April 25 -
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 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25