Two classes of mortgage pass-through certificates from Structured Asset Securities Corp. series 1998-8 have been downgraded by Fitch Ratings.Class M-1 was downgraded from AA to A-minus, and class M-2 was downgraded from A to BBB-minus. Fitch also affirmed the triple-A rating of class A. The downgrades were attributed to deterioration in the relationship between credit enhancement and expected losses. Fitch explained that the securities are made up of four component classes that support four groups, and each component is backed by a separate mortgage pool. "Although each mortgage group performs differently, since the component bonds are not severable, each component bond reflects the performance of the weakest of all the components," the rating agency said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
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