The rating service’s proposal to notch ratings assigned by rival firms when assessing insurers didn’t sit well with the Justice Department, members of Congress and industry participants.
Moody’s downgraded some of the tranches in loanDepot’s outstanding warehouse financing securitizations even after the company modified the transactions’ governing documents to meet new criteria.
Delinquencies, after spiking at the start of the pandemic, are back at manageable levels. Serious delinquency rates are still elevated, though. (Includes data chart.)
Mortgage earnings among a group of 22 banks declined by 12% on a sequential basis in the first quarter of 2022. The downward movement was anything but uniform, with some banks posting large swings up and down. The movements were largely driven by interest rate trends. (Includes data chart.)
CRA proposal would expand assessment areas for large banks; ICE to acquire Black Knight; Ishbia vows no layoffs at United Wholesale Mortgage; UWM competing on price; MBA concerned about kleptocrat legislation; Fairway unit offering NFTs of individual homes.