“Before a loan closes there will need to be [property] reinspections,” said Pete Mills, senior vice president of residential policy and member engagement for MBA.
The day before, Cherry Creek Mortgage issued a statement saying it would extend health care benefits to cover same-sex couples “effective immediately.”
Even though indications of stress in the U.S. auto market are proliferating, risks in the auto loan ABS sector are still under control and investors are protected by healthy levels of credit enhancement, according to industry analysts. “Despite late-cycle indicators continuing to garner headlines – softer used-car pricing, rising inventories, weakening headline seasonally adjusted annual sales, and rising loan losses – we remain comfortable with auto loan ABS fundamentals,” according to a new report from Kroll Bond Rating Agency. KBRA did concede...
Home-price depreciation was a greater driver of mortgage defaults during the financial crisis than unemployment, according to an analysis by S&P Global Ratings. The findings are counterintuitive because many borrowers continued to make mortgage payments when they experienced negative equity while the lack of employment can make it difficult to keep up with a mortgage. S&P studied loan-level data from the government-sponsored enterprises for mortgages ...
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