FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Fitch Slashes Prime RMBS to Junk

Fitch Ratings downgraded multiple Citigroup Mortgage RMBS series from triple-A to junk today after placing them on negative rating watch. The ratings agency made the downgrades as part of an ongoing review of prime and Alt-A RMBS transactions as the housing downturn continues to unwind. Many of the vintage 07 series involved in Citigroup's RMBS downgrades migrated to double-C from triple-A but several made the leap to triple-C from triple-A. The agency also slashed five series of Bear Stearns RMBS from triple-A to double-C, and one from triple-A to triple-C. Bank of America Funding's RMBS on the most part maintained its triple-A rating, although a single series previously placed on negative ratings plunged from triple-A to triple-C. Fitch recently revised its surveillance methodology for prime and Alt-A residential mortgage-backed securities to incorporate ResiLogic's mortgage loss and default model, which determines a base-case loss expectation in conjunction with a transaction specific assessment of the pool's actual performance. Write to Diana Golobay. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments.

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