Class B3 of Structured Asset Security Corp. residential mortgage-backed certificates, series 2005-S5, has been downgraded from CCC/DR2 to C/DR4 by Fitch Ratings.In addition, Fitch affirmed the ratings on 51 classes from four SASCO transactions. The downgrade was attributed to a deterioration in the relationship between credit enhancement and expected losses. The mortgage pool consists of conventional, fixed-rate, fully amortizing and balloon, second-lien residential mortgage loans. Fitch can be found online at http://www.fitchratings.com.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28