Two tranches of Structured Asset Securities Corp. 2003-BC3 have been downgraded by Moody's Investors Service.Class M5 was downgraded from Baa3 to B3, and class M4 was downgraded from Baa2 to Ba3. The downgrades were based on "the analysis of the current credit enhancement levels provided by excess spread, overcollateralization, and subordinate classes relative to the expected loss," Moody's said. The transaction is backed by subprime fixed- and adjustable-rate mortgage loans.
The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
Cybersecurity platforms said infiltrators gained access to terabytes of data with a wealth of personal information, but the lender disputed reported numbers.
The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.
The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.
