Class M-3 of Salomon Brothers Mortgage Securities VII Inc. New Century asset-backed certificates, series 1998-NC3, has been downgraded from BBB to BB-plus by Fitch Ratings.In addition, nine classes in seven transactions were upgraded and the ratings on 39 classes in 15 deals were affirmed. Fitch attributed the downgrade to higher-than-expected losses and delinquencies.
The top five producers had an average dollar loan volume of more than $140 million in 2023.
The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
A special committee is exploring any possible structural "strategic alternatives," which would be aimed at increasing shareholder value, the real estate investment trust said.
