Nine classes of United Companies Financial Corp.'s manufactured housing deals have been downgraded by Fitch Ratings.The downgrades are as follows: series 1997-3, class A-4, from BBB to BB-plus; series 1997-4, class A-4, from A-minus to BBB-plus; series 1998-1, class A-3, from AA-minus to A-minus; series 1998-2, class A-3, from AA to A-minus, class A-4, from BB to B-plus, and class M-1, from B-minus to CCC; and series 1998-3, class A-1, from BB to B-plus, class M-1, from B to CCC, and class M-2, from CCC to CC. In addition, Fitch affirmed the ratings on seven classes from five UCFC securitizations. The downgrades were attributed to deterioration in the relationship between credit enhancement and expected losses. Fitch can be found online at http://www.fitchratings.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25