Two classes of subprime second-lien residential mortgage-backed securities insured by XLCA have been downgraded by Fitch Ratings. Classes A1 and A2 of C-BASS series 2007-SL1 were downgraded from BB to CCC. The downgrades were based on Fitch's recent downgrade of XLCA's insurer financial strength rating to CCC, the rating agency said.
The deal reinforces PennyMac's AI-focused pivot and will also accelerate development and growth of its proprietary servicing platform, the lender said.
Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.
Higher mortgage rates and affordability pressure prompts Fitch Rating's revision from 'neutral' to 'deteriorating'
A California appellate court reversed a lower court's dismissal of a lawsuit over CrossCountry's alleged 2021 raiding of a Seattle-area branch.
HUD said its Office of Fair Housing and Equal Opportunity has reduced a Biden administration case backlog by 27% and accelerated investigations.
