Two classes of Salomon Brothers Mortgage Securities VII Inc. series 2000-C2 have been downgraded by Fitch Ratings. Class K was downgraded from B-minus/DR1 to CCC/DR2, and class J was downgraded from BB-minus to B. Fitch also affirmed the ratings on nine other classes in the transaction. The downgrades were attributed to additional specially serviced loans with expected losses.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9