The class C notes issued by Visage CDO I Ltd., a managed hybrid collateralized debt obligation composed of asset-backed security CDO and commercial real estate CDO tranches, have been placed on Rating Watch Negative by Fitch Ratings.The negative rating action resulted from collateral deterioration, as 14.2% of the portfolio has been placed under review for possible downgrade by at least one rating agency, Fitch reported. The CDO is based on a portfolio of mezzanine and high-grade ABS and commercial real estate CDOs.
-
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
4h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
9h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
11h ago -
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