PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

Former LandCastle Title CEO was Johnson's attorney and "trusted advisor"

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
W S

Fitch's negative outlook on US debt impacts structured finance transactions

/ Print / Reprints /
| Share More
/ Text Size+
Some classes of residential and commercial mortgage-backed securities are feeling the residual effects of Fitch changing its outlook on the nation's sovereign debt rating. Fitch Ratings affirmed several U.S. credit ratings at AAA on Monday, while revising the nation's overall long-term outlook to negative from stable. Because certain RMBS and CMBS finance deals benefit from government guarantees and insurance that comes from the U.S. government, Fitch said it will revise its ratings outlook on certain products from stable to negative. "While the vast majority of Fitch-rated U.S. structured finance transactions have little direct linkage to the U.S. government’s sovereign rating, certain transactions benefit from guarantees or insurance from the U.S. government (or U.S. government-related entities)," Fitch wrote in its notice. The company said outlook changes will impact 1,500 classes of student loan asset-backed securities, up to 100 classes of residential mortgage-backed securities and a small number of CMBS transactions. Fitch expects the changes will be revealed over the course of the next few days. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus