Moody’s cut Greece’s credit rating further into junk territory on Monday and said it was almost certain to slap a default tag on its debt as a result of a new EU rescue package. It was the second ratings agency to warn of a default after euro zone leaders and banks agreed last week that the private sector would shoulder part of the burden of a rescue deal that offers Greece more cash and easier loan terms to keep it afloat and avoid further contagion.
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United Wholesale Mortgage announced Tuesday it is rolling out a new loan program that offers borrowers an interest rate as low as 1.99% for both purchase mortgages and refinances.
On Wednesday night the FHFA rolled out a new adverse market refinance fee of 0.5%, which will be assessed for loans sold to Fannie Mae or Freddie Mac after Sept. 1.