Class 3B-4 of Structured Asset Mortgage Investments Inc.'s series 1999-2 (group 3) mortgage-backed securities deal has been downgraded from CCC to CC by Fitch Ratings.In addition, Fitch upgraded two classes and affirmed the ratings on nine classes in two SAMI issues. The rating agency attributed the downgrade to a deterioration in the relationship between credit enhancement and loss expectations. Class 3B-4 currently has only 0.91% of credit enhancement, in the form of subordination, Fitch reported. The series is backed by 30-year fixed-rate mortgage loans extended to alternative-A borrowers.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
10h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
10h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
10h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
11h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25