Four classes of Structured Asset Securities Corp. residential mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: SASCO series 1998-11 group 1, class 1-B3, from BBB to BBB-minus, and class 1-B4, from B to CC; SASCO series 2001-8A, class B5-I, from B to CCC; and SASCO series 2001-10A, class B5, from B to CC. In addition, Fitch affirmed the ratings on 21 SASCO classes. The downgrades were attributed to loss levels and "Fitch's analysis of potential future loss expectations relative to credit support levels." Fitch can be found on the Web at http://www.fitchratings.com.
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The agency proposed to repeal a regulation that requires FHLBanks to submit formal notices before engaging in new business activities that carry unmanaged risk.
11h ago -
So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.
11h ago -
Home price growth is accelerating as inventory stalls—Chicago and Pittsburgh lead mid-tier gains at 4.2%, while Denver and Las Vegas see supply-driven price corrections.
July 27 -
The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
July 27 -
The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
July 27 -
The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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