SASCO MBS Classes Downgraded

Published April 25, 2007, 2:00 p.m. EDT

1 Min Read

Seventeen classes from six Structured Asset Securities Corp. residential mortgage-backed securitizations have been downgraded by Fitch Ratings.In addition, the Distressed Recovery ratings on two SASCO classes were lowered. Fitch also affirmed the ratings on 59 classes from six SASCO deals. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations. The pools consist of conventional, fixed-rate, fully amortizing and balloon, second-lien residential mortgage loans, Fitch said.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Career moves

NEXA appoints new CEO, Mike Kortas to be executive partner

Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.

By Colin McNamara
Reporter

5h ago
The best default strategy starts before default

Servicers have spent much of the past decade operating in a relatively benign default environment. But there are growing signs that may be changing.

Partner Insights from LoanCare
The Great American Mortgage Corporation

Trump posts new support for GSEs, lower mortgage rates

Two online ads promise Fannie Mae and Freddie Mac are working to boost purchase applications but it's unclear whether they signal interest in a stock offering.

By Bonnie Sinnock
Capital Markets Editor

7h ago
Servicing

MSR retention hits 57% share: benchmark your sell strategy

Weak refi demand is pushing lenders to lean on servicing income, as tighter execution spreads and higher MSR values shift the industry's sell/retain calculus

By Brad Finkelstein
Originations Editor

8h ago
CAREER & COMPENSATION

Better exec tapped to lead PLACE, Envoy Mortgage operations

Chad Smith departs the lender in a transition phase, after helping Better to generate 2.5 times growth in total revenue and funded loan volume since 2024.

By Andrew Martinez
Reporter

11h ago
Mortgage fraud

Pulte, FHFA fraud crackdown heightens counterparty vetting risks

The Federal Housing Finance Agency has barred 51 people from working with Fannie Mae and Freddie Mac this year, the most suspensions in any calendar year.

By Andrew Martinez
Reporter

September 8

Load More