Two classes of Structured Asset Mortgage Investments mortgage pass-through certificates have been downgraded by Fitch Ratings, and a third has been removed from Rating Watch Negative.The downgrades in the SAMI Inc. series 2000-1 group 1 were as follows: class IB4, from BB to BB-minus, and class IB5, from B to B-minus. The rating on class IIIB4 of SAMI Inc. series 2000-1 group 3 was affirmed at BBB and removed from Rating Watch. In addition, Fitch affirmed the ratings on 35 other classes from several SAMI securitizations. The downgrades reflect deterioration in the relationship between credit enhancement and expected losses, Fitch said.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
6h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
8h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
8h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
10h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
11h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18