Class B-3 of Structured Asset Mortgage Investments Trust, series 2001-4, has been downgraded from Baa2 to Baa3 by Moody's Investors Service.The transactions are backed by first-lien fixed-rate mortgage loans. The downgrade was attributed to weak performance by the underlying loans, with historical and expected cumulative losses exceeding original expectations. Future losses could cause the writedown of the nonrated subordinate certificates in the deal, Moody's said.
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
