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  • It’s official: Trump nominates Mark Calabria to lead FHFA

    Late Tuesday night, President Donald Trump announced his choice to lead the Federal Housing Finance Agency – Mark Calabria. Calabria’s nomination must still be approved by the Senate, but with his extensive background in housing, and a Republican majority in the Senate, that isn’t expected to be a problem. Click the headline to read more.

Items Tagged with 'Fitch'

ARTICLES

  • Amazon announces HQ2 locations in New York and Virginia

    Housing industry reacts to potential impact
    Amazon announced Tuesday the locations for its second headquarters, naming Long Island City, New York, and Arlington, Virginia, as the winners of its year-long search. HQ2 is expected to bring 50,000 jobs and more than $5 billion in investments, and while this will be a boost to the local economies, some are critical of the tech giant’s impact on property values and infrastructure.
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  • Wells Fargo is back in the mortgage securitization business

    Prepares to issue first securitization since the housing crisis
    Once an absolute giant in the mortgage securitization space, Wells Fargo has been noticeably absent from the list of issuers since the housing crisis, but that’s all about to change. The lender is preparing to issue its first mortgage-backed securitization since the meltdown, and unlike its past securitizations, this one is backed by the highest of high-quality loans.
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  • Ocwen dumps Fitch, names interim CEO

    Ending contract with ratings agency, also names replacement for departing CEO
    Over the years, Fitch Ratings has frequently commented about Ocwen Financial, issuing reports and ratings actions about the nonbank’s business dealings, trials and tribulations. Well, that’s about to come to an end. But that's not the only big news that Ocwen made on Monday.
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  • Fitch: Ocwen outlook remains negative despite PHH deal

    Continuing regulatory overhang not overcome by pending acquisition
    The outlook for Ocwen Financial is still negative despite its recently announced $360 million deal to acquire PHH thanks to Ocwen’s continuing regulatory overhang, Fitch Ratings said Friday in a note to clients. In the note, Fitch's analysts said that Ocwen’s outstanding issues with the CFPB and a number of state regulators outweigh any positives that may be gained in the PHH deal.
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  • Fitch, Moody’s bullish on massive Lennar-CalAtlantic merger

    Both cite combined company’s size as significant benefit
    On Monday, Lennar and CalAtlantic Group announced a deal that will see Lennar acquire CalAtlantic in a deal valued at approximately $9.3 billion. The deal will create the nation’s largest homebuilder. Both Fitch Ratings and Moody's Investors Service are bullish on the deal. Here's why.
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  • Fitch warns mortgage bond investors: Wells Fargo could keep more money for legal fees

    $2.2 billion in RMBS classes now at risk of downgrade
    Earlier this month, Wells Fargo unexpectedly kept $90 million away from residential mortgage-backed securities investors, stating that the bank needed the money to cover legal expenses. Now, Fitch Ratings is warning RMBS investors that Wells Fargo’s move may not be an isolated incident. In fact, it may be a harbinger of similar moves to come in the future.
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  • Fitch: New tools from Fannie Mae, Freddie Mac will make mortgages safer

    Changes to appraisals, verification of borrowers’ finances strengthen underwriting
    Mortgage underwriting is getting stronger and safer for both borrowers and lenders thanks to new tools introduced in recent years by Fannie Mae and Freddie Mac, Fitch Ratings said in a new report. According to Fitch, new approaches to appraisal valuation and income verification are “improving these government-sponsored enterprises’ ability to assess credit risk, while reducing costs for sellers and borrowers.”
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  • Fitch: Is there a housing bubble in these hot, hot markets?

    Texas is hotter than ever, but is it sustainable?
    Housing in the state of Texas was hotter in 2016 than it’s ever been before, but is real estate in the Lone Star state getting too hot? A new report from Fitch Ratings suggests that Texas is one of a few states where home prices are not only unsustainable, they’re overheating.
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  • AAA ratings return for non-prime mortgage bonds. Crisis redux? Maybe not

    Feature of new RMBS deal builds in greater protections for bond buyers
    The world of post-crisis mortgage bond trading is about to change, as a new mortgage bond is set to hit the market that features loans that would be considered non-prime, and also carries AAA ratings – a post-crisis first. Both Fitch Ratings and DBRS handed the deal AAA ratings on the largest tranche of the deal, but the deal is not a return to the pre-crisis world of credit ratings, at least not yet.
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