Two tranches from Structured Asset Mortgage Investments II Trust series 2006-AR3 have been downgraded by Moody's Investors Service.Class II-B-2 was downgraded from A2 to Baa1, and class II-B-3 was downgraded from Baa2 to B1. The downgrades were attributed to higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels. The collateral classes consists primarily of first-lien, adjustable-rate alternative-A mortgage loans.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
7h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
8h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
9h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
11h ago -
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
April 18 -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
April 18