Ten classes of Saxon Asset Securities Trust issues have been downgraded by Fitch Ratings.The downgrades were as follows: series 2000-1 group 1, class BF-1, from BB to C; series 2000-2 group 1, class BF-1, from BB to CCC, and class BF-2, from CCC to C; series 2000-3 group 1, class MF-2, from A to BBB, and class BF-1, from CCC to C; series 2000-4 group 1, class MF-2, from A to BBB, and class BF-1, from BB to C; series 20001-1 group 1, class MF-2, from A to BBB, and class BF-1, from CCC to C; and series 2001-1 group 2, class BV-1, from BBB to BBB-minus. In addition, Fitch upgraded 16 classes from seven Saxon transactions and affirmed the ratings on 47 classes from nine deals. The downgrades were attributed to worse-than-expected performance of the underlying collateral and diminishing credit enhancement. Fitch can be found online at http://www.fitchratings.com.
-
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
1h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
2h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18