Two certificates from Structured Asset Securities Corp.'s series 2002-BC1 securitization have been downgraded by Moody's Investors Service.Class M3 was downgraded from Ba1 to B2, and class B was downgraded from B1 to Ca. Moody's attributed the downgrades to credit enhancement levels that are deemed to be low given the projected losses on the underlying pools. The transaction is backed primarily by first-lien subprime mortgage loans. The rating agency can be found online at http://www.moodys.com.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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