Class B-4 of Salomon Brothers Mortgage Securities VII Inc. mortgage pass-through certificates, series 1997-HUD1, has been downgraded from CC to C by Fitch.In addition, the ratings on four other classes in the deal and four classes from Salomon 1997-HUD2 were affirmed. The rating agency attributed the downgrade to depleted credit support and high delinquencies. Fitch can be found online at http://www.fitchratings.com.
Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
ICE data reveals home value growth hit a 15-month high, prompting originators to target resilient markets like upstate New York and pivot focus toward single-family inventory.
The company reported a nearly $600,000 loss as it navigates the loss of Rithm-related business and pushes for a more diversified revenue model.
Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.
