Five classes of Structured Asset Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings.The downgrades were as follows: SASCO 2001-8A pools 1-3, class B4-I, from BB-minus to B; SASCO 2002-22H group 1, class B4-I, from BB to B, and class B5-I, from CCC/DR2 to C/DR6; and SASCO 2002-22H group 2, class B4-II, from BB to B, and class B5-II, from CCC/DR2 to C/DR6. In addition, the ratings on 15 other classes in the transactions were affirmed. Fitch attributed the downgrades to cumulative pool losses and high delinquency levels.
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AD Mortgage sent a letter to the FHFA explaining the importance of the limited review process in facilitating access to conventional condo financing.
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With margins remaining compressed, Bill Cosgrove sees mortgage industry consolidation continuing in the near future, and Union Home will be a player.
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The large nonbank mortgage company is replacing a multibillion-dollar facility it took out last year before the Mr. Cooper and Redfin deals closed.
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Cities in two southern states dominate the list for real estate, affordability, and quality of life, according to WalletHub.
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Lenders are still frequent targets of the class action complaints over unwanted mortgage solicitations, violations that have netted litigants big paydays.
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Jay Farner takes a majority ownership stake in Detroit's professional soccer franchise through the investment group he launched after leaving Rocket in 2023.
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