Moody’s Investors Service downgraded $650m of residential mortgage-backed securities, or RMBS, made up of Alt-A loans issued by Countrywide Financial in 2005, the latest downgrade by the ratings agency. It has downgraded many tens of billions of dollars of RMBS over the past several months as loan losses and delinquencies remain high, although signs of stabilization–and even decline–have been seen in recent data.
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Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time? If not, which is one is true? HousingWire Columnist Logan Mohtashami takes a deeper dive.
Across the Twittersphere Tuesday morning, real estate agents and home sellers griped about the glitches they were experiencing on the Zillow website.