The number of residential mortgage-backed securities ratings handled by each of the three major rating agencies has been roughly equal, according to a Nov. 6 National Economic Research Associates study that each of the three agencies has responded to differently.Among other findings of the study was that S&P "was more likely than Fitch or Moody’s to initiate a downgrade in RMBS," S&P said. The study "confirms that there are real and substantive differences" between the three agencies, according to Moody's Investors Service, which contracted the NERA to conduct the independent study in 2001. In contrast, Fitch Ratings believes the study shows that those differences are "small." NERA can be found online at http://www.nera.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
5h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24