Two classes of Structured Asset Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings.The B-4 classes of SASCO 2001-2 and SASCO 2001-9 were downgraded from BB to B, Fitch said. In addition, the rating agency upgraded seven classes and affirmed the ratings on 23 classes from five SASCO deals. Fitch attributed the downgrades to loss levels, future loss expectations, and high delinquencies in relation to applicable credit support.
Experts have some tips for how to best employ strategies that can minimize the damage from changes in the market.
Bill Pulte, FHFA director, has ordered Fannie Mae to update its servicer guide to mirror Freddie Mac policy regarding notifying borrowers about dropping MI.
Seven of eight offices are open; debit cards are capped at $1,000 a day; and the bank's website is down. The bank has given no restoration date.
It will be a promotion for Jones, currently the deputy assistant secretary for single-family housing at the Department of Housing and Urban Development.
The Federal Housing Administration share of August new-home purchase applications hit its highest mark in three months, the Mortgage Bankers Association said.
While Federal Reserve Chair Kevin Warsh has sought to inject some mystery into the central bank's communications with markets, an American Banker analysis shows that officials other than the chair have been speaking more and more frequently over the last few decades.
