Class M-2 of Terwin Mortgage Trust 2004-EQR1 has been downgraded from A2 to Ba1 by Moody's Investors Service.The downgrade was attributed to low credit enhancement levels vis-a-vis current loss projections. "This transaction is not performing as anticipated due to the rising loss severities, delinquency rates, and realized losses," Moody's said. The underlying collateral consists of nonperforming, fixed- and adjustable-rate, first-lien residential mortgage loans.
BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.
Researchers showed a message with no return address slips past Reject Direct Send. Credit unions were told to close this kind of gap in 2021.
Also, the Broker Action Coalition announced Jamie Cavanaugh as its next CEO, while Dark Matter Technologies added two new members to its leadership team.
Two online ads promise Fannie Mae and Freddie Mac are working to boost purchase applications but it's unclear whether they signal interest in a stock offering.
Weak refi demand is pushing lenders to lean on servicing income, as tighter execution spreads and higher MSR values shift the industry's sell/retain calculus
